What matters to me today is Climate Disclosure Isn’t Going Away.
Despite aggressive efforts at the federal level to dismantle climate-related regulatory regimes, climate disclosure mandates remain a significant risk-management and compliance issue for private businesses. The most important drivers today are not federal regulators, but states—particularly California and New York.
California continues to lead. The Legislature’s adoption of SB 253 (the Climate Corporate Data Accountability Act) and SB 261 (the Climate-Related Financial Risk Act) requires large companies doing business in the state to disclose greenhouse gas emissions and climate-related financial risks. Entities with more than $1 billion in annual revenue must report Scope 1, Scope 2, and eventually Scope 3 emissions, while companies exceeding $500 million in revenue must disclose climate-related financial risks and mitigation strategies.
Earlier this year, the California Air Resources Board adopted implementing regulations establishing reporting obligations, fee structures, and definitions governing which entities are covered. Although a federal court enjoined SB 261 and a request for broader relief remains pending before the Ninth Circuit, CARB proceeded with rulemaking nonetheless.
Meanwhile, New York has adopted its own greenhouse-gas reporting regime requiring emission sources meeting specified thresholds to submit annual emissions reports beginning in 2026.
The takeaway is simple: even as federal climate policy shifts, state-level disclosure mandates are expanding. For companies operating nationally, climate reporting is no longer a political question—it is a compliance reality.
That’s what matters to me today in 250 words or less. What matters to you? I’d really like to know.