California’s pioneering climate disclosure laws are advancing with minor delays after the passing of Senate Bill 219 (SB 219). The amendments, signed into law by Governor Gavin Newsom on September 27, 2024, grant the California Air Resources Board (CARB) a six-month extension, moving the deadline for implementing regulations to July 1, 2025. However, companies must still begin reporting their greenhouse gas (GHG) emissions in 2026, covering emissions from 2025. 

These laws, namely the Climate Corporate Data Accountability Act and the Climate-Related Financial Risk Act, aim to hold businesses accountable for their climate impact. They require entities doing business in California to report Scope 1 and Scope 2 emissions starting in 2026, and Scope 3 emissions by 2027. Companies must follow the Greenhouse Gas (GHG) Protocol for these disclosures. Additionally, firms must submit climate-related financial risk reports using frameworks like the Task Force on Climate-related Financial Disclosures (TCFD) or the IFRS S2 Climate-related Disclosures standard. 

Despite a proposed two-year delay from Governor Newsom, the California legislature opted for a limited extension. This puts pressure on companies to prepare now, as the reporting requirements remain intact. 

Businesses are advised to assess their eligibility based on revenue thresholds and California’s taxation codes. Legal challenges are ongoing, but until resolved, companies should assume compliance is mandatory. 

출처: 

https://www.mondaq.com/unitedstates/environmental-law/1532384/californias-first-in-the-nation-climate-disclosure-laws-will-move-forward-with-limited-delay-under-recent-amendment 

https://www.theepochtimes.com/us/group-of-businesses-sue-california-to-block-new-climate-disclosure-laws-5578166?utm_medium=GoogleAds&utm_source=PerfmaxM&utm_campaign=PM_max_BaltimoreDisaster_Test22d_20241011&gclid=Cj0KCQjwveK4BhD4ARIsAKy6pMJ-cTBBTMJUbFkg5erC6gpVPOo-b2PjsAGXL7HgYr20A_T-Y_jvCh8aAm_XEALw_wcB 

https://www.winston.com/en/blogs-and-podcasts/winston-and-the-legal-environment/californias-first-in-the-nation-climate-disclosure-laws-will-move-forward-with-limited-delay-under-recent-amendment