California Climate Reporting Laws: CARB Provides New Guidance

The California Air Resources Board (CARB) recently held its second virtual public workshop to provide additional guidance on implementing California's climate disclosure statutes, SB 253 (Climate Corporate Data Accountability Act and codified at Health and Safety Code § 38532) and SB 261 (Climate-Related Financial Risk Act and codified at Health and Safety Code § 38533). These laws require large companies to disclose their greenhouse gas emissions and climate-related financial risks, with initial reporting deadlines rapidly approaching. We have previously written about SB 253 and SB 261 here and here.

While the workshop offered greater clarity on timing and new draft concepts relating to implementation, CARB continues to make key decisions on foundational aspects of the regulations, including which entities will be scoped in. The slides from the workshop can be found here. One key takeaway is that CARB is listening to and implementing feedback from stakeholders