Dear John,
Over the weekend, California Gov. Gavin Newsom signed into law a suite of climate legislation, including two landmark bills that will set a national standard for corporate climate disclosure. With strong disclosure standards like these, we can assure clear and specific climate action transition plans with timebound, measurable targets to achieve ambitious climate goals.
Ceres and the broader investment community have long pushed for better information and transparency about how companies are working to prepare for and address climate-related financial risks. Representing the world’s fifth largest economy, California policymakers have taken this challenge to heart. By adopting its new climate disclosure framework, the state will provide unprecedented, actionable, and economy-wide information for stakeholders across the country and around the globe.
Ceres was a co-sponsor of both bills, SB 253 and SB 261. SB 253 requires companies that do business in California and earn at least $1 billion annually to report climate pollution across their supply and value chains. SB 261 requires companies with revenue over $500 million to report on their climate-related risks. The bills had the support from dozens of leading businesses, institutions, and trade groups that recognize the massive opportunity in the clean energy economy and the need for a standardized and consistent reporting.
Ceres applauds Gov. Newsom and state legislators for re-affirming California as the nation’s pioneer in ambitious climate policies and ensuring that capital markets have material information needed to confront the climate crisis. If you agree, I invite you to share your support and thanks for Gov. Newsom’s leadership by calling (916-445-2841), contacting his office, or
posting a message on social media. |
