California Senate Approves Greenhouse Gas Disclosure; SEC ... - JD Supra
California Senate Approves Greenhouse Gas Disclosure; SEC Remains Conspicuously Silent | Manatt, Phelps & Phillips, LLP - JDSupra
The California Senate passed two bills that would require climate-related disclosures from specified companies doing business in California. SB 253 (Weiner) and SB 261 (Stern) will now move to the state Assembly for consideration. It was in the Assembly that a bill similar to Senator Weiner’s SB 253 was narrowly defeated in a floor vote last session. As previously reported here and
Concurrent with the California legislative proposals, we have been tracking a proposed disclosure rule by the Securities and Exchange Commission that would apply only to publicly traded companies. As reported in the links above, the final SEC rule was expected by the end of March 2022. The final rule has yet to be released.
Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.