05/12/2021

Collaboration Is Key to a Sustainable Supply Chain

Technology is making transparency simpler

For now at least, the Environmental Protection Agency (EPA) or Securities and Exchange Commission (SEC) will not levy fines against U.S. manufacturing companies that fail to reduce greenhouse gas emissions (GHG) to levels in line with the Paris Climate Accord and the Biden Administration’s aggressive goals. But manufacturers across all industries find themselves under increasing pressure from state governments, investors and consumers to use the Paris Treaty and the U.S.’s pledge to fight climate change as guideposts for reducing GHG emissions—or face real and significant financial consequences.

The State of Massachusetts in March passed a law that sets specific greenhouse gas (GHG) emissions limits statewide and empowers the Department of Environmental Protection (DEP) to set so-called “emissions sub-limits” for a number of sectors including industrial processes.

(For now, Massachusetts will not penalize violators.) And in California, the “Climate Corporate Accountability Act” legislation currently under consideration would order large corporations to submit extensive reduction goals to state regulators. Those regulators would have the authority to issue fines to those that don’t meet their targets.

Please select this link to read the complete article from Industry Week.