The "Climate Corporate Data Accountability Act" requires business entities in New Jersey with annual revenues exceeding $1 billion to publicly disclose their greenhouse gas emissions data. This legislation aims to improve transparency regarding corporate contributions to climate change, enabling consumers and investors to make informed decisions. Reporting entities must submit annual reports detailing their scope 1, scope 2, and scope 3 emissions to the Department of Environmental Protection (DEP) and a designated nonprofit organization, with specific timelines for each scope's disclosure. The DEP is also authorized to collect fees for administrative costs and to contract with a nonprofit organization and an academic institution to manage and analyze the emissions reports.

To ensure compliance, the act imposes civil administrative penalties for violations, with fines increasing from $10,000 for the first offense to $50,000 for subsequent offenses. The DEP is empowered to adopt rules and regulations to facilitate efficient reporting and verification processes. Additionally, the act allows businesses to use emissions reports submitted under California's similar legislation to meet New Jersey's requirements, thereby streamlining compliance for companies operating in multiple states. Overall, the act seeks to align corporate practices with New Jersey's climate goals and contribute to a net-zero carbon economy.