NY S00897

Requires large business entities with over $1 billion in annual revenues doing business in New York to annually disclose scope 1, scope 2, and scope 3 greenhouse gas emissions to a contracted nonprofit emissions reporting organization beginning July 1, 2026.

Mandates disclosure of scope 1 and scope 2 emissions by July 1 each year starting in 2026, and scope 3 emissions by January 1 each year starting in 2027, with disclosures measured according to Greenhouse Gas Protocol Corporate Accounting and Reporting Standards.

Requires independent third-party assurance engagement at limited assurance level for scope 1 and scope 2 emissions starting in 2026, upgrading to reasonable assurance level in 2030, with potential scope 3 assurance requirements by January 1, 2027.

Authorizes the attorney general to impose civil penalties up to $100,000 per day for willful non-compliance, capped at $500,000 per reporting year, with limited penalties for scope 3 reporting violations between 2027 and 2030.

Creates the climate accountability and emissions disclosure fund to receive annual fees from reporting entities sufficient to cover the department's full administration costs, with all emissions data made publicly available on a digital platform operated by the emissions reporting organization.