California Enacts Sweeping Climate Change Bills

California Gov. Gavin Newsom signed Senate Bill 253, the Climate Corporate Leadership and Accountability Act, and Senate Bill 261, the Climate-Related Financial Risk Act, into law on Oct. 7, 2023.
 
Under the statutes, companies doing business in California will be required to publicly report their climate-related financial risks and greenhouse gas (GHG) emissions starting as early as 2026 for some organizations.