(FOX40.COM) — California Governor Gavin Newsom announced at the opening ceremony of Climate Week NYC that he intends to sign Senate Bill 253, a greenhouse gas emissions disclosure requirement authored by Senator Scott Wiener (D-San Francisco).

“In announcing he will sign SB 253, Governor Newsom is reaffirming California’s global climate leadership. These carbon disclosures are a simple but intensely powerful driver of decarbonization,” Senator Wiener said in a statement issued after the announcement.

“When business leaders, investors, consumers, and analysts have full visibility into large corporations’ carbon emissions, they have the tools and incentives to turbocharge their decarbonization efforts. This legislation will support those companies doing their part to tackle the climate crisis and create accountability for those that aren’t,” he added.

SB 253 is reported to require any public or private company earning over a billion dollars in annual revenue that operates in California to publicly disclose the greenhouse gas emissions released from their operations and supply chain. Officials say the goal is to “unlock new approaches and drive action to reduce emissions.”

For more information visit legislature.ca.gov.