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Audio: California’s not waiting for the SEC’s climate disclosure rules

Authors
Maple

#California Leads in #ClimateDisclosure with Bold Laws Key Takeaways:

  • Companies need to prepare for stringent climate disclosure mandates.
  • Scope 1, 2, and 3 GHG emissions reporting becomes mandatory.
  • Venture capital to report on investee diversity starting March 2025.

Further Insights

  1. Broad Impact:
  • Over 10,000 US and international companies doing business in California now face new climate disclosure requirements, significantly expanding the scope beyond SEC's proposal.
  1. Comprehensive Requirements:
  • New laws mandate reporting on GHG emissions, climate-related financial risks, emissions claims, and the use of carbon offsets, aligning with frameworks like GHG Protocol and TCFD.
  1. Imminent Deadlines:
  • Compliance dates starting January 2024 for carbon market disclosures and expanded GHG emissions reporting beginning in 2026 emphasize urgent preparation.

Closing Thoughts: As California sets a new precedent with these comprehensive climate disclosure laws, how will businesses adapt to meet these stringent requirements? Furthermore, what potential ripple effects might we see in other states or at the federal level?

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