A new California ”anti-greenwashing” law comes into effect on January 1, 2024. The law – called the Voluntary Carbon Market Disclosures Act (AB 1305) (VCMDA) – casts a wide net over companies participating in the California voluntary carbon market or that make certain “green” claims within California. The VCMDA applies regardless of revenue thresholds if companies are deemed to “operate in” and “make claims within” California (with both of these terms already subject to some interpretive ambiguity). The law also does not distinguish between public and private companies or US and non-US companies. Our Legal Update tells you what you need to know about the reach and requirements of the new law.
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