California Governor Newsom to Sign Groundbreaking Climate Disclosure Bill for Big Business

California Governor Gavin Newsom announced his intention to sign two major bills aimed at increasing corporate climate disclosure. The first bill, CA SB253, would require companies earning at least $1 billion per year and operating in California to disclose their emissions. The second bill, CA SB261, would mandate large corporations to disclose their climate-related financial risks. These bills could have a significant impact on corporate transparency and climate risk assessment, potentially influencing national regulations. The legislation goes beyond proposed federal rules by including privately held companies and requiring full disclosure of supply chain emissions.