The Briefing Room: New York Senate advances emissions disclosure bill

On February 10, the New York Senate passed Senate Bill S9072A, legislation that would establish the Climate Corporate Data Accountability Act (CCDAA) and require certain large companies doing business in New York to publicly disclose their greenhouse gas (GHG) emissions. The bill now goes to the New York Assembly, where it is expected to advance early in the legislative session.  

For many U.S. companies, the structure of S9072A will look familiar. The bill closely mirrors California’s Senate Bill 253, which established mandatory Scope 1, 2, and 3 emissions disclosure for large companies operating in California. While S9072A is not yet final, its advancement signals that New York is moving in a similar direction, and reinforces the growing role of states in shaping climate disclosure requirements in the U.S. 

What are the requirements of New York's climate disclosure bill?  

If enacted as written, S9072A would require large companies to annually disclose Scope 1, 2, and 3 GHG emissions, calculated in accordance with the Greenhouse Gas Protocol. Similar to California’s climate disclosure law, Scope 1 and Scope 2 emissions reporting becomes mandatory first, requiring limited assurance, with Scope 3 disclosures beginning the following year.  

All disclosures would be made publicly available through a digital platform administered by a state‑designated emissions reporting organization, increasing transparency for investors, customers, and other stakeholders. If a company does not publicly disclose, the bill authorizes the New York Attorney General to seek civil penalties for willful non‑compliance, including non‑ or late filing, of up to $100,000 per day, capped at $500,000 per reporting year. Consistent with California’s approach, penalty assessments will consider compliance history and good‑faith efforts. The bill also includes Scope 3 guardrails, providing a safe harbor for good‑faith, reasonably based disclosures and limiting early Scope 3 penalties to non‑filing only through 2032. 

Who is covered under this proposed law? 

To be considered a covered entity, companies must meet the following criteria: 

• Formed under the laws of New York, another U.S. state or the District of Columbia, or an act of the U.S. Congress 
• Prior fiscal year global revenues greater than $1 billion, including but not limited to revenues received by subsidiaries operating in New York 
• “Does business” in New York and deriving receipts from activities within the state 

Importantly, the definition of doing business and deriving receipts is already defined in the legislation. Rather than creating a new standard, the bill relies on long‑standing New York tax law concepts to determine coverage, referencing NY Tax Law § 209. This focuses on whether a company generates meaningful revenue tied to New York customers or operations, even if it does not maintain offices, facilities, or employees in the state. At the same time, the bill makes clear that limited or incidental activities, such as holding board meetings or maintaining bank accounts in New York, do not trigger compliance.  

Importantly for large corporate groups, the bill allows for parent‑level consolidated reporting, a provision that was added later to its Californian counterpart. If a covered subsidiary is included in the consolidated financial statements of an ultimate parent company, the parent may submit a single, consolidated emissions disclosure. When this option is used, the subsidiary is not required to file a separate report. This provision will be particularly relevant for companies with complex organizational structures, and mirrors approaches used in other climate disclosure regimes. 

What happens next in New York? 

S9072A is currently in the Codes Committee in the NY state Assembly and needs approval before a full Assembly vote. If passed, the bill is sent to Gov. Kathy Hochul for signature to become law.  While some elements could be refined during the Assembly process, the bill’s main structure is well defined, and it is expected to move forward this session.  

The legislation establishes a deadline for the Department of Environmental Conservation to develop and implement regulations by December 31, 2027. These regulations will specify reporting deadlines, formatting standards, assurance qualifications, and other relevant requirements. The timeline is designed to provide covered businesses with sufficient time to collect necessary data and complete assurance procedures before making disclosures. The regulatory process is expected to include opportunities for public comment and should be closely observed as the bill progresses.  

Why this matters for your business 

New York’s climate disclosure bill, S9072A, reflects a broader shift in the climate disclosure landscape. As federal support for sustainability regulation in the U.S. continues to fade, states are playing a more prominent role in defining disclosure obligations, with California and New York among the most consequential for large companies with national or global footprints. 

New York is not an outlier: similar proposals are advancing in states such as New Jersey, and additional state‑level disclosure initiatives are likely to follow. At the same time, emissions disclosure requirements continue to expand internationally, even as adoption in the U.S. develops unevenly.  

Globally, jurisdictions representing more than 60% of global GDP have already adopted, or are actively moving toward, mandatory climate disclosure regimes aligned with the International Sustainability Standards Board (ISSB) alone. This shows that state‑level efforts are part of a broader shift rather than an outlier from a global perspective. 

For companies operating across multiple regions, the key challenge is understanding how evolving mandatory disclosure requirements apply across jurisdictions – and the consequences of failing to comply. Emerging disclosure regimes increasingly include enforcement mechanisms, such as monetary penalties, corrective action requirements, and public reporting of non‑compliance. In some cases, inaccurate or incomplete disclosures can also heighten legal, regulatory, and reputational risk. Therefore, early visibility and awareness can help organizations strengthen data governance, clarify ownership across teams, and reduce the risk of compliance gaps as new disclosure regimes take effect.  

For commercial and industrial companies, especially those with an international footprint, the question is no longer whether disclosure matters, but where, when, and how obligations apply across complex operations and geographies. 

Whether you are just starting your compliance journey or looking for implementation solutions, our team at Trio is here to help. Trio supports organizations at every stage of this process, from sustainability disclosure regulatory assessments that cut through regulatory complexity to clarify your global obligations, to working with your internal teams on materiality assessments, inventory development, and implementation support for compliance, we help companies stay ahead as disclosure expectations continue to grow worldwide. For more information, please reach out to Trio’s Sustainability Team.