disclosure of climate risks
SB 253 and SB 261 would be first-in-the-nation laws meant to pull back the curtain on emissions and climate risks.
After a hard-fought battle, the California Legislature passed the second of two nation-leading corporate climate accountability bills yesterday afternoon. The bills, SB 253 and SB 261, are important transparency measures that would, for the first time, allow Californians to meaningfully assess the carbon footprint of thousands of companies—and what those companies plan to do about …CONTINUE READING
SB 261 results from CLEE report recommendation
The California Legislature passed two path-breaking climate risk disclosure bills this week. Both bills now go to Governor Gavin Newsom’s desk where he has until October 14th to sign them. Senate Bill 261 (Stern) requires major corporations to disclose climate change related financial risks, using a framework consistent with that of the Task Force on Climate …CONTINUE READING
In an important but under-reported development, the Obama has shifted policy on corporate reporting of climate risks. According to Greenwire, In a policy reversal long sought by shareholder advocates, the U.S. Securities and Exchange Commission ruled yesterday that investors can directly call on public companies to describe the financial risks they face from global warming. …CONTINUE READING