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CA AB2331

Bill

Status

Engrossed

5/13/2024

Primary Sponsor

Jesse Gabriel

Click for details

Origin

State Assembly

2023-2024 Session

AI Summary

  • Requires business entities marketing or selling voluntary carbon offsets in California to disclose detailed project information on their websites, including project identification, location, protocol, crediting period, and carbon storage monitoring requirements, with initial disclosures due July 1, 2025.

  • Defines "voluntary carbon offset" as a tradable instrument (rather than a product) sold or marketed in the state that claims to represent greenhouse gas emission reductions or removals, excluding legally or regulatory-mandated reductions and certain compliance-based credits.

  • Allows resellers of voluntary carbon offsets to satisfy disclosure requirements by directing buyers to the original generator's disclosures, providing information at settlement for eligible contract participants, or directing buyers to registry-published project disclosures.

  • Requires entities making net zero, carbon neutral, or similar emissions claims to disclose how such claims were determined, verified, and measured, including science-based targets and third-party verification information on their websites by July 1, 2025.

  • Establishes civil penalties of up to $2,500 per day for violations (maximum $500,000 total) and requires annual updates to all disclosures posted on business websites.

Legislative Description

Voluntary carbon market disclosures.

Last Action

Assembly Rule 77 suspended.

8/29/2024

Committee Referrals

Appropriations7/3/2024
Judiciary6/19/2024
Environmental Quality5/22/2024
Rules5/13/2024
Appropriations4/16/2024
Natural Resources3/21/2024

Full Bill Text

No bill text available