California has outpaced the US federal government in leading the country on climate-related disclosures with SB 253, SB 261, and AB 1305 signed into law. California’s upcoming laws will affect the vast majority of large U.S. corporates. Those with over $500M in revenue will fall under SB 261 and be required to carry out reporting on climate-related financial risks and opportunities. A smaller tier of companies with $1B in revenue would additionally be required to disclose GHG emissions, including value chain or scope 3 emissions. AB 1305 affects sellers, marketers, and users of carbon offsets and those claiming to have achieved carbon neutral and net zero.
Join Bonnie Holman, Managing Director of SCS Consulting Services, and Karen Righthand, Vice President of Marketing at SCS Global Services to discuss the major components of SB 261, SB 253, and AB 1305 and what these laws mean for companies doing business in California. We’ll address the major areas of the bills and how companies can prepare. With the US SEC climate rule anticipated to be finalized soon, we’ll explain the distinctions between the SEC proposed rule and California’s requirements and what that might mean for future alignment. We cover the principal resources that companies can begin to utilize today to prepare for legal compliance. And finally, we’ll cover the upcoming effective data of AB 1305 and what information companies need to prepare now.