New California Climate Disclosure Requirements: Impact of SB 253 and SB 261, Reporting, Key Issues, and Next Steps
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Energy
- event Date
Thursday, May 2, 2024
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE webinar will provide counsel an in-depth analysis of California Climate Disclosure Requirements under SB 253, the Climate Corporate Data Accountability Act, and SB 261, the Greenhouse Gases: Climate-Related Financial Risk, along with AB 1305, the Voluntary Carbon Market Disclosures. The panel will discuss the disclosure requirements of each bill and their impact on companies, reporting obligations, recent legal actions, and next steps.
Mr. McDonough focuses on defending enforcement actions, bringing regulatory challenges, and litigating with regulatory agencies, including the EPA, the DOJ, and the California ARB, among others. He represents companies from a variety of industries, including energy production and importing, petroleum refining, freight transportation, consumer products, chemical manufacturing, and electronics manufacturing.
Mr. Schuda has practiced environmental law for nearly 30 years. He enhances his clients’ performance as stewards of the environment by providing legal advice in the areas of due diligence in real estate transactions; M&A; pandemic response; identifying, safely manufacturing, registering and safely using chemicals and pesticide products; hazardous waste generation, minimization and cleanup; growing clean and healthy food crops while preserving natural resources; providing warnings related to ingredients in consumer products; drafting and publishing climate-related disclosures; and avoiding greenwashing claims. Mr. Schuda's work extends to the courtroom, before environmental agencies, and negotiating with citizen enforcers. He is also the California environmental partner on Dentons US’ ESG Advisory Team.
In October 2023, California enacted separate pieces of legislation detailing the new climate disclosure rules for public and private companies with operations or dealings within the state of California. These new rules and requirements impact a number of energy companies and their investors, forcing them and their counsel to navigate these new requirements, monitor and collect data, and file reports in order to comply with these new rules.
Taking advantage of the opportunity to set mandatory and comprehensive risk disclosure requirements aimed toward sustainability within the enegy sector, Calfiornia enacted the Climate Corporate Data Accountability Act (SB 253), the Greenhouse Gases: Climate-Related Financial Risk (SB 261), and the Voluntary Carbon Market Disclosures (AB 1305). Collectively, these rules are the first of their kind and set the standard that other states may move towards with similar measures.
In light of these new rules, counsel must determine (1) which companies are considered to be "covered entities" and "doing business in California," (2) what data must be monitored and collected, and (3) best practices for navigating the reporting requirements and implement protocols to ensure compliance.
Listen as our panel discusses California's new climate disclosure requirements under SB 253, SB 261, and AB 1305, their impact on companies, reporting obligations, recent legal actions, and next steps for renewable energy companies and investors.
- Overview of California climate disclosure requirements
- Senate Bill 253
- Senate Bill 261
- Assembly Bill 1305
- Compliance; collection of data, reporting
- Next steps for companies with California operations and dealings
The panel will discuss these and other key issues:
- Impact of California's climate disclosure requirements on renewable energy projects and operations
- Determining what companies are "covered entities" in light of the new rules
- Key provisions of SB 253 and next steps for impacted companies
- Complying with SB 261 and potential challenges for impacted companies
- Next steps for renewable energy projects, operators, and investors
