On September 27, 2024, California Governor Gavin Newsom signed Senate Bill 219, the Greenhouse gases: climate corporate accountability: climate-related financial risk (SB 219) after the California Assembly and Senate each approved SB 219. SB 219 amends Senate Bill 253: the Climate Corporate Data Accountability Act (SB 253) and Senate Bill 261, Greenhouse gases: climate-related financial risk (SB 261), which were signed into law in October 2023. Notably, SB 219 did not delay the compliance deadlines for reporting companies under either SB 253 or SB 261, as proposed by certain lawmakers. Our recent Client Alert discusses the changes enacted by SB 219, and notes that despite legal challenges, companies are urged to prepare for these reporting requirements given the growing demand for environmental accountability.
