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Transparency in Energy Production Act of 2023
2/5/2024, 11:45 AM
Summary of Bill HR 4302
Additionally, the bill mandates that energy companies report their greenhouse gas emissions and other pollutants to the Environmental Protection Agency (EPA) on a regular basis. This information will be made available to the public in an easily accessible format, allowing consumers to make informed decisions about the energy they use.
Furthermore, the Transparency in Energy Production Act of 2023 includes provisions to promote renewable energy sources and incentivize companies to reduce their carbon footprint. This includes offering tax credits and other financial incentives to companies that invest in clean energy technologies. Overall, the bill aims to hold energy companies accountable for their environmental impact and promote transparency in the energy production industry. By providing consumers with more information about where their energy comes from and how it is produced, the bill seeks to encourage a shift towards cleaner, more sustainable energy sources.
Congressional Summary of HR 4302
Transparency in Energy Production Act of 2023
This bill requires certain disclosures by entities seeking a lease or holding a lease to develop renewable energy operations or fossil fuel operations on public lands or Indian lands or any operation using any right-of-way or special use permit that would cross public lands, Indian lands, or national forests that would facilitate fossil fuel development. The disclosures are those described in the Sustainability Accounting Standard for the Renewable Resources and Alternative Energy Sector or the Extractives and Mineral Processing Sector.
Every two years, the Department of the Interior and the Department of Agriculture must report to Congress on such operations, including greenhouse gas emissions, air quality, water management, biodiversity impacts, production, and the number of sites. For renewable energy operations on public lands or Indian lands, the report must include greenhouse gas emissions that would result from the production of the same amount of energy using fossil fuels.
