Greenhouse Gas Accountability Act of 2007

Bill: 110-hr-2651
Sponsor: Rep. Engel, Eliot L. [D-NY-17]
Introduced: 2007-06-11 in the House
Policy area: Environmental Protection
Subjects: Administrative procedure
Aerospace industries
Air pollution control
Armed Forces and National Security
Automobile industry
Building materials
Business records
Chemical industries
Climate change and greenhouse gases
Commerce
Congress
Congressional investigations
Congressional reporting requirements
Construction industries
Data banks
Defense industries
Electric utilities
Electronic government information
Energy
Energy industries
Environmental Protection Agency
Finance and Financial Sector
Fines (Penalties)
Forest products
Gas industry
Government Operations and Politics
Government paperwork
Government publicity
Independent regulatory commissions
Information disclosure (Securities law)
International Affairs
Iron and steel industry
Law
Mines and mineral resources
Paper and paper products
Petroleum industry
Public Lands and Natural Resources
Science, Technology, Communications
Securities and Exchange Commission
Transportation and Public Works
Treaties
United Nations

Summary:
action_date: 2007-06-11
text: 
Greenhouse Gas Accountability Act of 2007 - Requires the Administrator of the Environmental Protection Agency (EPA) to establish a program to require specified entities (including any significant greenhouse gas (GHG) emitter and any entity with annual revenues exceeding $10 million that is engaged in the business of automobiles, aerospace and defense, chemicals, construction materials, electric utilities, energy equipment and services, oil, gas, and consumable fuels, metals and mining, paper and forest products, or transportation) to report annually to the Administrator on their GHG emissions. Sets forth program design requirements, including that it be consistent with the standards, protocols, and principles of the Climate Registry and the California Climate Registry.

Authorizes an entity to report offsets and sequestration projects to mitigate its GHG emissions.

Requires the Governmental Accountability Office (GAO) to report on entities' compliance and on whether the regulations are effective in inventorying GHGs. Provides for penalties for noncompliance.

Requires the Administrator to establish a public website containing a national GHG emissions database.

Directs the Securities and Exchange Commission (SEC) to: (1) revise its regulations under the Securities Exchange Act of 1934 to require that certain annual reports filed by issuers of securities contain specified information concerning GHG emissions; and (2) issue an interpretive release clarifying, for purposes of specified regulations, that U.S. commitments to reduce emissions of global warming pollution under the United Nations Framework Convention on Climate Change, May 9, 1992, are considered to be a material effect and that global warming constitutes a known trend.


Legislative actions:
action_date: 2007-07-17
text: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
action_date: 2007-06-11
text: Referred to the Subcommittee on Energy and Air Quality.
action_date: 2007-06-11
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-06-11
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-06-11
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-06-11
text: Introduced in House
action_date: 2007-06-11
text: Introduced in House