The California State Assembly passed major climate bills that will alter how companies do business. California Senate Bill 253 requires thousands of public and private companies to disclose their scope 1, 2, and 3 GHG emissions annually to California’s Air and Resource Board (CARB). California Senate Bill 261—also known as the Climate Related Financial Risk Act (CRFRA)—requires certain entities to disclose financially material climate-related risk and opportunity information consistent with the recommendations of the
Task Force on Climate-Related Financial Disclosure (TCFD) to the Climate Air Resources Board (CARB).
