Mar 25, 2021
Persefoni Statement on California's Climate Corporate Accountability Act (SB-260)
The climate crisis is here, and while we still have time to mitigate the worst climate impacts, we must act now. The international scientific consensus is that if we reduce greenhouse gas (GHG) emissions, we can slow the rise in global temperatures.
California, always a leader in environmental policy, represents approximately 15 percent of the entire U.S. economy. Were it a country, California would be the world's fifth-largest economy (GDP), ahead of India and behind Germany. California has tremendous potential to drive change and must continue to show leadership in the fight against the climate crisis.
The Climate Corporate Accountability Act (SB-260) is a critical part of this leadership. If enacted, S.B. 260 would create mandatory reporting of GHG emissions for large corporations that do business in California and would require companies to adopt emissions targets and employ measures to reduce those emissions. For the sake of our climate and future, this can and must be done.
To quote management guru Peter Drucker: “What gets measured, gets done” — thankfully, we have the tools today that enable even the largest enterprises to manage their carbon transactions with the same confidence that they currently manage their financial transactions. Similar to the California Consumer Privacy Act of 2018, enterprises already have this data; they only need to start managing it. Doing so will uncover insights that can help mitigate the impacts of climate change, while also creating many new jobs for Californians.
At Persefoni AI, we have created an enterprise software platform that allows companies of all sizes to quickly and efficiently calculate their carbon footprint in real-time. They can get as granular with high-fidelity data as they wish, adjust this over time, and report in adherence to global investor-grade disclosure standards including TCFD, SASB, CDP, and more. All of the emissions calculations are meticulously based on the Greenhouse Gas Protocol. This insight gives business leaders the information they need to forecast and transition to a low-carbon economy at the least cost. Finally, there are many other climate-tech ventures supporting the transition to a green economy, and in the process, creating jobs.
“As a Chief Digital Officer at a Fortune 500 company, I experienced first-hand the lack of good, enterprise-grade climate accounting software in the market. Persefoni was purpose-built to fill that gap,” says Kentaro Kawamori, CEO & Co-founder at Persefoni AI. “We provide real-time and forecasted carbon data that is essential to tackle the climate crisis and make policies like SB-260 easy for our customers.”
It’s essential that we work together to take action now to mitigate the worst effects of climate change. There is simply no time to waste. Policy actions like SB-260, combined with technological innovation, are key to ensuring a healthy, more sustainable future for generations to come.
“From first-hand experience working at the EPA and U.S. Senate, I have seen how California’s leadership in environmental policy sets an example for the entire nation and the world,” says Tim Mohin, Persefoni’s Chief Sustainability Officer. “SB-260 continues this leadership by providing true accountability for fighting the worst effects of climate change.”