Watershed的动态

?? California Sets a New Standard in Climate Accountability with SB 253 & SB 261 ?? California is once again leading the charge in climate action and corporate responsibility with the introduction of SB 253 and SB 261, part of the landmark California Climate Accountability Package. These groundbreaking laws mandate comprehensive GHG emissions reporting and climate risk disclosure, signaling a new era of environmental transparency and sustainability. ?? SB 253 - Climate Corporate Data Accountability Act mandates annual GHG emissions reporting for companies with over $1 billion in revenue, starting from fiscal year 2025. This includes Scope 1, 2, and eventually Scope 3 emissions, underpinning California’s commitment to a net-zero future. ?? SB 261 - Climate-Related Financial Risk Act extends the mandate to companies generating more than $500 million annually, requiring biennial reports on climate-related financial risks from 2026. This ensures that stakeholders are fully informed of potential climate impacts on operations, supply chains, and overall financial health. These initiatives not only reinforce California’s leadership in climate policy but also set a precedent for corporate responsibility on a global scale. With penalties for non-compliance, the message is clear: transparency in climate impact is non-negotiable. As businesses adapt to these new requirements, they face both challenges and opportunities. Developing the necessary infrastructure for data collection, verification, and reporting will be crucial. Yet, this also offers a chance to innovate, reduce carbon footprints, and lead in the transition to a sustainable economy. California’s bold steps are a call to action for companies worldwide to prioritize climate accountability. As we move towards a greener future, the integration of environmental transparency into corporate governance becomes ever more critical. Let’s discuss: How will SB 253 and SB 261 shape the future of corporate sustainability and climate accountability? Share your thoughts below. #ClimateAction #Sustainability #CorporateResponsibility #CaliforniaLegislation #GreenhouseGas #ClimateRisk #Innovation

Our latest analysis on the imminent SEC vote regarding climate disclosure regulations is now available. This comprehensive overview examines the proposed adjustments, their alignment with international standards, and their broader implications for the corporate sector's approach to environmental transparency. This article is essential for professionals interested in the evolving landscape of corporate governance and sustainability reporting. For a short examination https://lnkd.in/diazFkRj

Last week I spoke with Senator Scott Wiener, the architect of California’s climate disclosure law (the CCDAA), about the future of climate disclosure in the US.?(Link to event recording in the comments.) With the change of leadership in Washington, non-federal actors will again be the key players in the climate economy.?The CCDAA, for example, will require US companies that do $1B+ in business in California to report scope 1 and 2 emissions starting in 2026. Beyond regulation, economic incentives—from cheap clean energy, customers, and investors—will motivate corporate action on sustainability. Companies with major purchasing power will continue to build new markets for climate solutions. On November 25, we’re excited to keep the conversation going with two more climate policy experts: Rich Powell, a leading voice for conservative policies to accelerate climate solutions; and Robert J. Jackson, Jr., a former SEC Commissioner. Sign up to join us here: https://lnkd.in/gzXnqcPg

A new report from Ceres, Inc. covers responsible policy engagement and U.S. power utilities, highlighting existing inconsistencies and providing steps to improve climate advocacy. Our Deputy Director of Policy, Dominic Gogol, shares his views on the importance of the U.S. power sector for the clean energy transition below. ?? Read the Ceres report: https://lnkd.in/eJV6Y-6P ?? Discover our guidance for companies on responsible policy engagement: https://lnkd.in/eWQn_Hpv

Interesting read from CNBC. This vote will have far reaching implications. #sustainablebusiness #sustainability #sustainabledevelopment #esgreporting #esgstrategy

On March 6th, the SEC adopted a final ruling on the Climate Disclosure Rules for investors of publicly traded companies in the United States. Public companies have long been obligated to disclose key information such as their financial performance, corporate structure, and executive salaries. Today’s investors also want to understand the climate risk of companies whose stock they own, or are considering buying. Many companies have already been sharing climate related information, but these new requirements will provide greater consistency and comparability. Companies will now be required to disclose material climate-related risks, greenhouse gas emission information, and financial statements related to severe weather events. Depending on a company’s size and the type of greenhouse gas emission (Scope 1, 2 or 3), different rules apply. Scope 3 emissions (any indirect greenhouse gas emission not accounted for in Scope 2) are not required to be disclosed by any registrant, and smaller companies are also exempt from Scope 1 (direct greenhouse gas emissions from a company’s operations) and Scope 2 (indirect greenhouse gas emissions resulting from the company’s electricity use). In 2023, the European Union and the state of California passed their own disclosure laws, which are stricter than the latest SEC ruling. In California, the laws not only include Scope 3 emissions, but also apply to all private and public companies that “do business in California.” Both the SEC ruling and California’s recently passed Climate Disclosure laws are being challenged and held up in the courts for now. In the meantime, companies should prioritize incorporating sustainability efforts into their daily operations, supply chain solutions, and long-term strategies to remain competitive and meet increasing demands for transparency from a growing list of stakeholders. Want to learn more about what the SEC rules mean for your company? Check out this short video: https://lnkd.in/ezxUREmC

Essential reading from Ceres, Inc. with their new briefing ‘Toward Consistency: Assessing the Power Sector's Climate Policy Advocacy’ . This new report takes the application of responsible policy engagement (RPE) to a deeper level for U.S. utilities. It highlights the inconsistency of the utilities’ climate advocacy through direct lobbying and trade associations, why this is problematic and steps to improve climate advocacy practices.? U.S. utilities are an essential player in the economy’s transition to clean energy. They build and operate the all-important energy supply and distribution infrastructure the U.S. economy needs. They can and should wield their influence more effectively to ensure the passage and implementation of ambitious and market-orientated climate policies at the federal and state level. As the report says: “given the increasing urgency of the financial risks the changing climate is creating, utilities companies can engage more proactively with state and federal policymakers to ensure their perspective is considered. This can facilitate a more effective policy design and eliminate the need for circumventing the political system via dark money organizations.” We Mean Business Coalition will be looking to adapt this RPE systems approach as we build out the RPE framework we published last year, which sets a baseline for companies in every sector to follow. https://lnkd.in/eM73JgjC Congrats to Zach Friedman Yamika Ketu & the rest of the Ceres team for continuing their great work on RPE. https://lnkd.in/eJV6Y-6P

Having lived and worked in #California, I admired the state's pioneering #environmental policy, which often set precedents that other states and countries followed. Governor Gavin Newsom's recent proposal to delay the implementation of California's landmark #climate disclosure laws, SB253 and SB261, prompts companies to rethink their approach to sustainability and underscores the crucial role of advisory and fiduciary boards in steering these strategies to ensure that sustainability transcends mere #compliance to become integral to corporate #strategy, fostering long-term value creation and #resilience. As mandatory climate reporting looms in the U.S., let's lead with intention and #innovation, guided by #governance that places #sustainability at the core of strategic decision-making. Let's inspire others to adopt similar strategies, driving a collective effort towards a more sustainable future. #boardeffectiveness, #climatechange #valuecreation #ESG Competent Boards Equitas Tech (Advisors) INSEAD INSEAD IDN OnBoard Inc.

California is pioneering the pathway for global sustainability practices. With groundbreaking legislation like S.B. 253 and S.B. 261, two bills, where the state is mandating transparency in corporate greenhouse gas emissions and climate risk disclosures. This proactive approach underlines the urgency of climate change and encourages companies to adopt more environmentally responsible practices. Companies now have to be transparent about the greenhouse gases they emit and the financial risks they face due to climate change. This isn't just about regulation; it's a movement towards sustainability and accountability that affects us all. California's climate legislation simplifies to two main points: A) Greenhouse Gas Emissions Disclosure: Businesses must publicly share the amount of greenhouse gases they emit, making their environmental impact transparent. B) Climate-Related Financial Risk Disclosure: Companies are required to disclose risks to their finances caused by climate change. This could include how extreme weather or new regulations might affect them financially. The implications extend beyond state lines, inspiring changes in global environmental policies and corporate governance. These laws represent more than regulations; they symbolize a commitment to a sustainable future and a challenge to businesses worldwide to innovate and operate responsibly. Explore the full spectrum of California's climate laws and their transformative impact on the global stage in the detailed analysis available at eBook below. Join the movement towards a greener, more sustainable future. #ClimateChange #EnvironmentalLeadership #Innovation #Sustainability #CorporateResponsibility #GlobalImpact https://lnkd.in/gvnWttan

The U.S. Securities and Exchange Commission's final climate disclosure ruling, which notably does not include Scope 3 disclosures, has caused mixed responses and debates among different stakeholders. Here, Ben Maiden takes a look at what public companies will need to disclose, the changes the SEC made to its original proposal and the reactions of shareholder advocates and other environmentally focused groups. #corpgov #climatedisclosures #ESG #sustainability