What matters to me today are looming deadlines for California’s climate disclosure mandates (SB 253 and SB 261) and grave uncertainty as to what must be disclosed, by whom, and exactly when.
California led the world in 2023 enacting two unprecedented laws requiring comprehensive climate emissions (SB 253) and climate “risk” (SB 261) disclosures of large companies by 2026. The California Air Resources Board (CARB) was required to draft implementing regs by the end of 2024, given that 2025 emissions were subject to disclosure.
Governor Newsom flew to New York to stand on the steps of the United Nations and shame the rest of the world with California’s leadership on the laws but then secretly sought to push their effective dates by two years. The Legislature said “no.” They granted CARB an extra six months to produce the regs, but the due dates stuck – disclosures for 2025 in 2026.
CARB just released an FAQ on the disclosures that underscores the lack of clarity amid looming deadlines. One thing is clear: implementing regs will NOT be on time, but disclosures still must be. A CARB Enforcement Notice in late 2024 said that any “good faith effort” would be spared enforcement for noncompliance. Solace for disclosers (whomever they may be)?
Bottom line: if you haven’t started collecting your data, you’re already late. But late for what? Apparently, don’t ask CARB.
That’s what matters to me today in 250 words or less. What matters to you? I’d really like to know.