{"id":16029,"date":"2023-10-25T07:28:11","date_gmt":"2023-10-25T13:28:11","guid":{"rendered":"https:\/\/www.ulprospector.com\/knowledge\/?p=16029"},"modified":"2024-02-29T09:47:27","modified_gmt":"2024-02-29T15:47:27","slug":"california-enacts-sweeping-climate-change-bills","status":"publish","type":"post","link":"https:\/\/ulprospector.ul.com\/16029\/california-enacts-sweeping-climate-change-bills\/","title":{"rendered":"California Enacts Sweeping Climate Change Bills"},"content":{"rendered":"<div class=\"paragraph-gutter\">\n<div class=\"editor-content\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-16030\" src=\"https:\/\/ulprospector.ul.com\/wp-content\/uploads\/2023\/10\/G1211620675-Month-end-reporting-ULcom-HEADER-2400x1600-1-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/ulprospector.ul.com\/wp-content\/uploads\/2023\/10\/G1211620675-Month-end-reporting-ULcom-HEADER-2400x1600-1-300x225.jpg 300w, https:\/\/ulprospector.ul.com\/wp-content\/uploads\/2023\/10\/G1211620675-Month-end-reporting-ULcom-HEADER-2400x1600-1-1024x768.jpg 1024w, https:\/\/ulprospector.ul.com\/wp-content\/uploads\/2023\/10\/G1211620675-Month-end-reporting-ULcom-HEADER-2400x1600-1-768x576.jpg 768w, https:\/\/ulprospector.ul.com\/wp-content\/uploads\/2023\/10\/G1211620675-Month-end-reporting-ULcom-HEADER-2400x1600-1.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>by UL Solutions Regulatory Team<\/p>\n<p>California Gov. Gavin Newsom signed Senate Bill 253, the Climate Corporate Leadership and Accountability Act, and Senate Bill 261, the Climate-Related Financial Risk Act, into law on Oct. 7, 2023.<\/p>\n<p>Under the statutes, companies doing business in California will be required to publicly report their climate-related financial risks and greenhouse gas (GHG) emissions starting as early as 2026 for some organizations.<\/p>\n<p>The mandates apply to both public and private companies, although each bill has slightly different revenue thresholds. California defines any of the following as &#8220;doing business&#8221; in the state:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Any business engaging in any transaction for the purpose of financial gain within California<\/li>\n<li>Any business organized or commercially domiciled in California<\/li>\n<li>Any business having California sales, property or payroll exceeding certain amounts\u00a0<a href=\"http:\/\/www.ftb.ca.gov\/file\/business\/doing-business-in-california.html\" target=\"_blank\" rel=\"noopener\">found here<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>UL Solutions is here to help, learn more <a href=\"https:\/\/www.ul.com\/software\/esg-and-sustainability-reporting-software\" target=\"_blank\" rel=\"noopener\">here<\/a>!<\/h3>\n<hr \/>\n<h3>What this means for your business<\/h3>\n<p>As the largest subnational economy in the world, with a $3.6 trillion gross state product (GSP) as of 2022, California\u2019s passage of corporate climate accountability legislation is making global news. SB 253 and SB 261 are part of an expansive, global movement to legislate climate reporting for companies doing business within legislative limits. Companies need to be confident in their reporting as increased financial, legal and third-party assurance of emissions data is now the norm.<\/p>\n<p>View the full article\u00a0from the UL Solutions Regulatory expert team\u00a0<a href=\"https:\/\/www.ul.com\/news\/california-enacts-sweeping-climate-change-bills#\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>by UL Solutions Regulatory Team California Gov. Gavin Newsom signed Senate Bill 253, the Climate Corporate Leadership and Accountability Act, and Senate Bill 261, the Climate-Related Financial Risk Act, into law on Oct. 7, 2023. Under the statutes, companies doing &hellip; <a href=\"https:\/\/ulprospector.ul.com\/16029\/california-enacts-sweeping-climate-change-bills\/\">Continued<\/a><\/p>\n","protected":false},"author":20,"featured_media":16030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","footnotes":""},"categories":[607,5,21,16,263,2],"tags":[206,210],"ppma_author":[1237],"class_list":["post-16029","post","type-post","status-publish","format-standard","has-post-thumbnail","category-articles","category-personal-care-cosmetics-cleaners","category-plastics-2","category-paint-coatings","category-household-industrial-cleaners","category-food-beverage-nutrition","tag-sustainability","tag-regulatory","entry"],"yoast_head":"<!-- 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