CA SB755

Requires "large contractors" (companies receiving over $25 million in state contracts annually) to disclose scope 1, scope 2, scope 3 greenhouse gas emissions and climate-related financial risk each year

Requires "significant contractors" (companies receiving between $5 million and $25 million in state contracts annually) to disclose only scope 1 and scope 2 emissions annually

Reporting requirements begin one year after the State Air Resources Board adopts regulations under the Climate Corporate Data Accountability Act

Scope 1 emissions cover direct emissions from company-owned sources; scope 2 covers emissions from purchased electricity, steam, heating, or cooling; scope 3 covers indirect upstream and downstream emissions including supply chains and business travel

Climate-related financial risk includes material harm from physical and transition risks affecting operations, supply chains, employee safety, investments, and shareholder value