Oil lobbyists spend millions to stall California’s game-changing climate bill

illuminem summarizes for you the essential news of the day. Read the full piece from The Guardian here or enjoy below! 

🗞️ Driving the news: Two transparency bills in the California legislature aim to enhance corporate accountability by requiring companies to disclose more information about their emissions and climate action

🔭 The context: Current reporting requirements for corporate emissions are fragmented
• The climate disclosures bill would establish a groundbreaking law, holding some of the world's largest companies accountable for their environmental impact

🌎 Why does it matter for the planet: These bills could be a significant turning point in holding big polluters accountable and exposing misleading climate claims

⏭️ What’s next: Although the bills have gained momentum, their fate rests on moderate Democrats historically aligned with corporate interests
• These legislators will play a pivotal role in determining whether the bills advance or face obstruction

💬 One quote: "We can't improve what we don't measure," (Mary Creasman, CEO of California Environmental Voters)

📈 One stat: A study found that 93% of Chevron's offsets over the past two years were likely ineffective, underscoring the need for stricter regulations and reliable offsets in carbon trading markets

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