"California, however, recently enacted legislation that could force Walmart and other large corporations to come clean." Hahaha!
But seriously folks, this is an investor driven, capitalist society where everything broadcast is a marketing campaign meant to increase corporate profits NO MATTER WHAT! So I am impressed by this initiative and have noted which companies appear to be enthusiastically taking part.
Gavin Newsom continues to put into practice demonstrating that he is alert to our most important issues. California certainly dramatizes our geophysical global conditions that threaten our very survival. And of course, "corporate lobbyists" and the Chamber of Commerce are fighting tooth and nail against responsible measures.
How responsible and wise Walmart's CEO Doug McMillon proved himself to be on September 21. 2020 when he declared:
"What was once called climate change is now a climate crisis. Ice sheets are collapsing, extreme weather events are increasing, catastrophic fires are occurring, oceans are acidifying and biodiversity is decreasing."
And, then, he cites 2040 as a date to work toward zero emissions by! 2020 tp 2040! I hope he and all other postponers can find a way to enjoy life with Sponge Bob Square Pants before then.
I have done some of this carbon accounting and I see two major problems. One, Walmart has a million suppliers, constantly in flux. Will Walmart need to get annual data from every supplier? If so a massive burden.
Two, likely there will be double counting...by Walmart and also the supplier if in California. This looks like it will be an accounting and regulatory mess, with dubious benefits towards reducing carbon emissions.
All accounting begins as a mess. It is because of messes that accounting was invented. I look forward to when the competition among suppliers is to have the lowest carbon footprint, and their distributors shopping that new bottom line to meet their own collective carbon target.
Progress will be slow - but again, small steps are better than no steps at all, right? Even if it's just exposing these systemic issues to a broader audience.
Uh, $500k fine for Walmart or Amazon or Apple or Microsoft is basically a lunch order for them. That’s not going to make an impact! If they wanted to see change, the fine for non compliance needed to be $50M. They’re not going to do sh*t for $500k. Sorry, CA.
When the law is enacted, companies will immediately raise prices, as they have done recently “for inflation”, raking in bigger profits while saying, “see, we told you the law would be more costly.”
The other thing I find amusing is, as most of these corporate lobbyists are probably in favor of “States rights,” they complain when a State introduces a law that counters more favorable federal regulations. No surprise here though.
I certainly hope Newsom doesn't change his proposal for Stage 3 reporting of Corporations earning 1billion or more. This Small Business bullshit is not worthy of reconsidering this law. Small Businesses are not involved. Of course, big corporations will try to factor in their costs to monitor into raising prices for consumers and other businesses using their services or products, which is a concern, so maybe that should be the adjustment.... businesses who make over 1 Billion certainly can afford the costs of monitoring, they just don't want to.
and so here you have a great example of the weakness of state's power and idea of sovereign states when it comes to dealing with national and international companies. Walmart will be able to operate with less regulation in other states and their pollution in another state that border CA could affect CA and there is nothing CA could do about it, except sue and have the U.S. court decide. We, as a country, have been there, done that. It was called the Articles of Confederation and was found to make for a weak country.
"California, however, recently enacted legislation that could force Walmart and other large corporations to come clean." Hahaha!
But seriously folks, this is an investor driven, capitalist society where everything broadcast is a marketing campaign meant to increase corporate profits NO MATTER WHAT! So I am impressed by this initiative and have noted which companies appear to be enthusiastically taking part.
Good job Gavin Newsom!
Gavin Newsom continues to put into practice demonstrating that he is alert to our most important issues. California certainly dramatizes our geophysical global conditions that threaten our very survival. And of course, "corporate lobbyists" and the Chamber of Commerce are fighting tooth and nail against responsible measures.
How responsible and wise Walmart's CEO Doug McMillon proved himself to be on September 21. 2020 when he declared:
"What was once called climate change is now a climate crisis. Ice sheets are collapsing, extreme weather events are increasing, catastrophic fires are occurring, oceans are acidifying and biodiversity is decreasing."
And, then, he cites 2040 as a date to work toward zero emissions by! 2020 tp 2040! I hope he and all other postponers can find a way to enjoy life with Sponge Bob Square Pants before then.
There goes life imitating art (cartoons) again. Good metaphor.
Like to give old Doug a smack upside his head!
I have done some of this carbon accounting and I see two major problems. One, Walmart has a million suppliers, constantly in flux. Will Walmart need to get annual data from every supplier? If so a massive burden.
Two, likely there will be double counting...by Walmart and also the supplier if in California. This looks like it will be an accounting and regulatory mess, with dubious benefits towards reducing carbon emissions.
All accounting begins as a mess. It is because of messes that accounting was invented. I look forward to when the competition among suppliers is to have the lowest carbon footprint, and their distributors shopping that new bottom line to meet their own collective carbon target.
You make a great point. Maybe after a bit of legal wrangling, an effective compromise could be made?
It's great to see CA taking a couple of small steps to tipping points for bigger changes. I don't have rose-colored glasses here but seeing this signed along with the successful effort of a friend of mine, Allison Byers, helping to bring more transparency towards venture capital funding in a similar way this works: https://sd09.senate.ca.gov/news/gov-newsom-signs-sen-skinners-bill-boost-investment-women-and-minority-owned-startups#:~:text=Gov.%20Gavin%20Newsom%20has%20signed,transparency%20measure%20in%20the%20nation.
Progress will be slow - but again, small steps are better than no steps at all, right? Even if it's just exposing these systemic issues to a broader audience.
Uh, $500k fine for Walmart or Amazon or Apple or Microsoft is basically a lunch order for them. That’s not going to make an impact! If they wanted to see change, the fine for non compliance needed to be $50M. They’re not going to do sh*t for $500k. Sorry, CA.
Good point Erica. We need to see more than a slap on the wrist or it will not be effective enough.
When the law is enacted, companies will immediately raise prices, as they have done recently “for inflation”, raking in bigger profits while saying, “see, we told you the law would be more costly.”
The other thing I find amusing is, as most of these corporate lobbyists are probably in favor of “States rights,” they complain when a State introduces a law that counters more favorable federal regulations. No surprise here though.
I certainly hope Newsom doesn't change his proposal for Stage 3 reporting of Corporations earning 1billion or more. This Small Business bullshit is not worthy of reconsidering this law. Small Businesses are not involved. Of course, big corporations will try to factor in their costs to monitor into raising prices for consumers and other businesses using their services or products, which is a concern, so maybe that should be the adjustment.... businesses who make over 1 Billion certainly can afford the costs of monitoring, they just don't want to.
Excellent! Now other states, including Illinois and New York, need to enact similar statutes.
Ditto
and so here you have a great example of the weakness of state's power and idea of sovereign states when it comes to dealing with national and international companies. Walmart will be able to operate with less regulation in other states and their pollution in another state that border CA could affect CA and there is nothing CA could do about it, except sue and have the U.S. court decide. We, as a country, have been there, done that. It was called the Articles of Confederation and was found to make for a weak country.