Two new bills have been passed in California as part of a "Climate Accountability Package" that require US-based companies "doing business" in California to make disclosures about their emissions and climate-related financial risks. These are (a) the Climate Corporate Data Accountability Act (California Senate Bill 253 (SB-253)) and (b) the Climate-Related Financial Risk Act (California Senate Bill 261 (SB-261)). The laws remain subject to approval by the California Governor (who has until October 14, 2023, to sign or veto them).
To assist companies in preparing for these new climate-related disclosure requirements, we have provided a summary of some of the key requirements.
Read our Legal Update.
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