The Promise and Peril of State Corporate Climate Disclosure Laws
On October 7, 2023, California Gov. Gavin Newsom signed the most far-reaching corporate climate disclosure (CCD) requirements in the United States. This so-called California Climate Accountability Package consists of the Climate Corporate Data Accountability Act (Senate Bill (SB) 253), which requires certain companies to disclose greenhouse gas emission data, and the Climate-Related Financial Risk Act (SB 261), which requires certain companies to disclose climate-related financial risks.