U.S. companies would face additional scrutiny on their promises to slash emissions under a section on corporate transparency in a Senate-passed budget deal.
Among the billions of dollars of clean energy tax credits and private investments for decarbonization in the legislation is a provision that would provide $5 million for the Environmental Protection Agency to verify corporations’ commitments to reduce their greenhouse gas emissions and other climate pledges.
The funds would be used to support “enhanced standardization and transparency of corporate climate action commitments and plans to reduce greenhouse gas emissions,” according to the bill text. The EPA would also oversee corporations’ progress toward its emissions targets and climate goals, emphasizing “enhanced transparency” on whether companies are on track to meet such objectives.
