California Modifies Timetable For Implementation Of Climate Disclosure Laws

On Sept. 27, 2024, Gov. Gavin Newsom signed into law Senate Bill (SB) 219, delaying implementation of California's emissions and climate-related financial risk corporate disclosure laws. As we reported in a previous GT Alert, SB 219 amends some of the California Air Resources Board (CARB)'s requirements for implementing SB 253 and SB 261.

As amended by SB 219, CARB must adopt Scope 1, 2, and 3 emissions reporting regulations for companies by July 1, 2025, a delay of six months from the Jan. 1, 2025, requirement under SB 253. Annual reporting for Scope 1 and Scope 2 emissions would still commence in 2026 or such other date as determined by CARB. However, the timing of Scope 3 emissions annual reporting will now begin in 2027 on a schedule to be established by CARB, rather than within 180 days after disclosure of Scope 1 and 2 emissions.