United States: California Legislature Passes Significant Climate Disclosure Bills With Potential Broad Scope - Bass, Berry & Sims

White House Announces, $7 Billion Push to Replace , Fossil Fuels With Hydrogen. White House Announces, $7 Billion Push to Replace , Fossil Fuels With Hydrogen. 'Time' reports that the Biden administration has selected clean-energy projects based in seven states to participate in a $7 billion program focused on hydrogen fuel. Boosting development and production of hydrogen fuel technologies plays a key role in the president's agenda to combat climate change. Boosting development and production of hydrogen fuel technologies plays a key role in the president's agenda to combat climate change. 'Time' reports that the administration aims to establish seven regional hydrogen hubs meant to replace fossil fuels like coal and oil. . 'Time' reports that the administration aims to establish seven regional hydrogen hubs meant to replace fossil fuels like coal and oil. . Hydrogen offers a potential cleaner-burning energy source that could be used to power vehicles, aid manufacturing and generate electricity. Hydrogen offers a potential cleaner-burning energy source that could be used to power vehicles, aid manufacturing and generate electricity. According to the Biden administration, hydrogen is , "essential to achieving the president’s vision of a strong clean energy economy.". The technology also plays a critical role in achieving the nation's net-zero greenhouse emissions goal by 2050. The technology also plays a critical role in achieving the nation's net-zero greenhouse emissions goal by 2050. As a clean fuel, hydrogen complements the role played by other clean energy sources, like wind and solar, to help the U.S. reduce emissions in energy-intensive sectors of the economy: steel and cement production, heavy-duty transportation and shipping, White House statement, via 'Time'. As a clean fuel, hydrogen complements the role played by other clean energy sources, like wind and solar, to help the U.S. reduce emissions in energy-intensive sectors of the economy: steel and cement production, heavy-duty transportation and shipping, White House statement, via 'Time'. According to the White House, the initiative will spur over $40 billion in private investment and generate tens of thousands of jobs. . However, environmental groups argue that hydrogen power has a larger carbon footprint due to the amount of natural gas or coal needed to fuel the process. However, environmental groups argue that hydrogen power has a larger carbon footprint due to the amount of natural gas or coal needed to fuel the process. Hydrogen is another bait-and-switch from an administration that continues to break its promises to aggressively tackle climate change and help communities achieve a just, equitable transition to renewable energy, Silas Grant, campaigner with the environmental group Center for Biological Diversity, via 'Time'

California Governor Gavin Newsom signed two climate disclosure bills into law on October 7, 2023. They will impose significant reporting obligations on thousands...