NY S06308

Business entities with annual revenues exceeding $1 billion that operate in New York must annually disclose scope 1, 2, and 3 greenhouse gas emissions to a contracted nonprofit emissions reporting organization, with scope 1 and 2 reporting beginning in 2028 and scope 3 reporting beginning in 2029

The Department of Environmental Conservation must develop regulations by January 1, 2027, requiring emissions reporting in conformance with Greenhouse Gas Protocol standards, including independent third-party assurance verification at limited assurance levels initially and reasonable assurance levels by 2032

Reporting entities must pay annual fees to cover the department's administrative costs, with proceeds deposited into a Climate Accountability and Emissions Disclosure Account

The emissions reporting organization must create a publicly accessible digital platform displaying emissions data, allowing consumers and investors to view individual disclosures and aggregated multiyear data

Administrative penalties for non-filing, late filing, or other violations cannot exceed $500,000 per reporting year, with no penalties for good faith scope 3 misstatements or for scope 3 non-compliance issues other than non-filing between 2029 and 2032