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🌎 Stay Ahead of Climate Accountability in California 🌎 California’s regulatory landscape is evolving—are you prepared to comply with the Climate Accountability Package? Join Trinity Consultants for our complimentary webinar, "Preparing for Climate Accountability: Insights into California’s Corporate GHG and Financial Disclosure Programs (Part I)", to gain essential insights into SB 253 and SB 261. These groundbreaking regulations, set to be implemented by CARB in 2025, will impact corporate leaders, sustainability professionals, and compliance officers alike. SB 253, the Climate Corporate Data Accountability Act, mandates companies with annual revenues over $1 billion doing business in California to report GHG emissions across Scopes 1, 2, and 3, in alignment with international standards like the Greenhouse Gas Protocol. Similarly, SB 261, the Climate-Related Financial Risk Act, applies to companies with annual revenues over $500 million and requires disclosure of climate-related financial risks and mitigation strategies based on frameworks such as the TCFD. 📅 Date: January 29, 2025 ⏰ Time: 11:00 AM - 12:00 PM PST What you'll learn: ✅ Key requirements of SB 253 and SB 261, amended by SB 219 ✅ Corporate GHG reporting and climate risk disclosure essentials ✅ Who these regulations impact—and how to prepare ✅ Updates on CARB’s rulemaking process ✅ Practical tips to enhance your compliance strategy Don't miss this opportunity to equip your organization with the tools needed to navigate California’s ambitious climate accountability regulations. 👉 Register today: https://lnkd.in/g_v7PNkg #ClimateAccountability #GHGDisclosure #Sustainability #CorporateCompliance #CaliforniaRegulations Charles Lee Christi Wilson Wendy Merz Linda Nguyen

California and the Office of California Governor Gavin Newsom officially implemented the final, revised versions the California Climate Corporate Data Accountability Act (SB 253) and Climate-Related Financial Risk Disclosure Act (SB 261) laws today for large corporations ☁️ ▪️ First Scope 1 & 2 emissions reports due in 2027 (for FY2026) ▪️ First Scope 3 reports due in 2028 (for FY2027) ▪️ First International Sustainability Standards Board (ISSB)-aligned climate risk reports also due in 2028 ▪️ S1 & S2 GHG must be assured at a “limited assurance” level, moving to a “reasonable assurance” level starting in 2030

Governor Newsom’s proposal to delay California’s climate-related corporate disclosure deadlines for bills SB-253 and SB-261 was unsuccessful. Despite these efforts, comprehensive disclosures of carbon emissions and climate risks for these bills will now be required by 2026. We’ve created a status update to help you understand the requirement deadlines and determine if your organization is subject to these regulations: https://lnkd.in/gECg8D5r At Uplift, we're dedicated to supporting your compliance journey. If you need assistance in preparing for these requirements or have questions about reporting with confidence, please don't hesitate to reach out. #climatechange #corporatesustainability #compliance #environmentalregulations #businessupdates #SB253 #SB261 #California

Exciting news for climate accountability! Office of California Governor Gavin Newsom has signed a new law, SB 219, mandating that large companies operating in the state disclose their GHG emissions and assess climate-related financial risks. This legislation, building on SB 253 and SB 261, introduces climate reporting for most large U.S. businesses. Under SB 253, companies with revenues over $1 billion doing business in #California must report their Scope 1 & 2 emissions starting in 2026, and Scope 3 in 2027.  Meanwhile, SB 261 requires firms with revenues over $500 million to evaluate and report their climate-related financial risks. This significant step not only enhances transparency but also encourages businesses to take meaningful action on #decarbonization. If your organization needs help with audit-ready emissions and #climate risk reporting for California (and/or other jurisdictions), please message us!

🌍 Climate Footprint Disclosures and the SEC’s 2024 Rule 🌍 In response to growing stakeholder demand for climate disclosures, the SEC adopted its first climate guidance in 2010. Fast forward to March 2024, after receiving 24,000 comments, the SEC finalized its latest rule on emissions reporting. However, the rule is now subject to a stay order and faces legal challenges. Under the new disclosure requirements, public companies must report material Scope 1 and 2 emissions (direct and purchased power emissions) in their second quarter 10-Q filings. Scope 3 emissions (value chain emissions), due to pushback, remain voluntary. 💡 Key concerns around mandatory Scope 3 disclosure: 1. Cost & Complexity: Gathering data from non-public companies adds excessive workload and disadvantages smaller firms. 2. Data Reliability: Lack of GAAP and SEC compliance from third parties raises questions about the reliability and cost of auditing Scope 3 data. Impact on Business: The added costs could challenge companies’ competitiveness, disrupt supply chains, and increase consumer prices. 3. While transitioning to sustainable practices is essential, we believe mandatory Scope 3 disclosures require more time and refinement. A balanced approach is crucial to support businesses while minimizing costs for all stakeholders. #ClimateDisclosures #Sustainability #ESG #SEC #Investment #ScopeEmissions #CorporateGovernance #GHG

UPCOMING FREE WEBINAR: Roadmap for Climate-Related Disclosures: California, SEC & CSRD Wednesday 31st July | 11am ET | 8am PT | 4pm BST Delivered in partnership with ClimeCo As climate disclosure requirements continue to evolve, companies face increased compliance risk. This webinar is designed to equip you with actionable insights for preparing for California Senate Bills 253 & 261, the SEC ruling, and the European Union’s CSRD. Join this webinar where we will discuss the actionable steps companies should take to meet upcoming deadlines. We will also cover: ⏱️ Disclosure mandates and critical deadlines 📍The roadmap to compliance preparation 💼 How to take advantage of planning efficiencies REGISTER YOUR PLACE FOR FREE: https://hubs.li/Q02Fqs6q0 #Decarbconnect #ClimeCo #Climatedisclosures #SB253 #SB261 #SEC #CSRD #Decarbonisation #Sustainability #Sustainable #Compliance

California amended climate disclosure obligations that require companies “doing business in California” to publicly disclose GHG emissions data and climate-related financial risk reports. Companies should prepare for compliance and reporting. Raquel Fox | Caroline Kim | Elizabeth Malone | Khadija L. Messina | Sydney Smith #climatechange #esg #california #compliance #corporategovernance

For those in companies that do business in California, note that less than two weeks ago, the state passed SB 219 to help clarify climate disclosure requirements from SB 253 and SB 261 that would come into effect for reporting year 2025 (i.e. in 2026). This overview from HAK is helpful: https://lnkd.in/gBqrHygs. Highlights: - Timing: There was a proposal from the governor's office to delay implementation. That proposal is rejected, though there are some minor timing modifications - Subsidiaries: if your parent company files, no need for your subsidiary to file - Relevance: Unchanged. For any company that has “total annual revenues in excess of one billion dollars ($1,000,000,000) and that does business in California” - Third-party assurance/verification: you'll need third-party assurance of the public disclosure of your scope 1 and scope 2 Note also there is litigation challenging the constitutionality of the laws that will be in court this week, so there's more to coalesce on this front. It's a notable part of the tapestry of carbon emissions disclosure requirements that have come about in the last few years (EU CSRD, U.S. SEC, ISSB-committed countries, etc.). Regulations should not ultimately be driving your climate strategy (think concerted voluntary effort to capture business value and address risks), but they are a key reporting component and a good strategy should account for them.

Were you wondering about the status of California’s climate disclosure rules? Our recent client alert provides an overview of the state of play. Companies that may be impacted by these rules should take note and prepare for compliance. 

With the increasing push for transparency, new climate disclosure laws are coming into play in California and the European Union. These laws will have significant implications for U.S. businesses, whether you operate globally or regionally. 💡Join our webinar where we’ll break down what these regulations mean for your business, the steps you need to take to comply, and the potential risks of non-compliance. What we’ll cover:  - Global Disclosure Regulations and Emerging Trends  - Understanding the CSRD and its Implications for U.S. Companies  - Key Aspects of SB 253 and 261: Definitions, Requirements, and Reporting Deadlines     📅 Date & Time: Thursday, 6 February 2025   1:00 – 2:00 PM EST   🔗 Register Now: https://bit.ly/3Cg3evB    Don’t miss this opportunity to stay ahead of evolving climate regulations. See you there!     #ClimateDisclosure #Sustainability #Compliance #SB253 #SB261 #CSRD #ESG #ClimateRegulations #Webinar