Governor Gavin Newsom announces he will sign landmark climate disclosure bills SB 253 and SB 261!

SB 261 first proposed and drafted by CLEE Climate Risk Initiative

Breaking news! Governor Gavin Newsom just announced on stage at New York Climate Week that he will sign both of the landmark greenhouse gas emissions and climate risk disclosure bills, #SB253 (Wiener) and #SB261 (Stern), the later of which was first proposed and then drafted by our Climate Risk Initiative at the Center for Law, Energy and the Environment (CLEE) at Berkeley Law!

Once enacted by the Governor, these two bills will set a new national standard for greenhouse gas emissions reporting and for disclosure of climate-related financial risks consistent with the framework established by the Financial Stability Board’s Task Force on Climate-Related Financial Disclosure (TCFD). California leads the nation once again, as we continue to wait for US federal financial regulators to require climate-related disclosures from corporations and financial institutions.