Matt Berner

It's great to see California's proactive approach to climate-related financial risk disclosure through the Climate-related Financial Risk Act (SB 261). This law requires companies with business in California and a gross revenue of over $500 million to disclose their climate-related financial risks and methods to mitigate them. The reporting includes physical and transition risks, measures to reduce and adapt to identified risks, and strategy priorities. To learn more on this topic, please review the link below. Our team of professionals would be happy to discuss this with you if interested. https://lnkd.in/e3RypCJh #Disclosure #ESGreporting

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Three simple reasons I love being a 🎙️ podcast host: 1. Connections - I get to know and have genuine conversations with very interesting and knowledgeable people that I might not otherwise have had the chance to connect with 🤝 . 2. Insights - I gain advice and insights from said great people 🦉 . 3. Service - You 🫵 get the chance to gain advice and insights from above mentioned, very interesting and knowledgeable people 😁. If you're in business, law and/or sustainability, you'll want to take advantage of point #3 and dive into this great episode of Inspiring Perspectives (today, we may as well call it Legal Perspectives!) with David Smith, LL.M., partner at Manatt, Phelps & Phillips, LLP's Energy and Environment division. Great insights on SB 253 and SB 261 and so much more! #sustainability #climatelaw #california #advice #legalperspective #inspiringperspectives #business #energy #environment #mandates

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I’m pleased to share Carbon Accountable's new “SB 253: A Regulations Roadmap”.  I wrote this brief with Michael Schmitz to show that the timely development of a robust set of implementing regulations for the California Climate Corporate Accountability Act #SB53 (Sen Scott Wiener) is eminently doable. The document presents exemplar regulations that clearly demonstrate the feasibility of adhering to the law’s requirement for first reporting by companies in 2026 and challenges the rationale for the proposed two year delay by the Governor's Office Office for this critical climate law. There’s been tremendous support and excitement worldwide for California as it joins the growing network of jurisdictions enacting mandatory corporate GHG emissions disclosure requirements including the EU with its new Corporate Sustainability Reporting Directive (#CSRD) and countries across the globe that are adopting the #ISSB standards. We're confident that Governor Newsom will ensure that the Act is implemented on time because there is no time to lose - #companies need #GHGemissionsdata to manage #climaterisks and inform their chosen #decarbonizationstrategies and #consumers and #investors must have access to the #climatedata they need for decision making. #ClimateAccountability #GHGData  #CarbonTransparency #ClimateAction Here are links to stories in: Politico California Climate - https://politi.co/4cgZy8O Bloomberg Law - https://bit.ly/46EE5pd Yahoo Finance - https://yhoo.it/3Abc786 Here’s a link to the full roadmap - https://bit.ly/3AoCQOw Erik Mebust Radhika Gawde Ross Zelen Gil Topete Brendan Murphy Melissa Romero Mary Creasman Jake Rascoff Steven M. Rothstein Kim Stone Mike Wallace Veda Banerjee Lea Ann Tratten Jena Price Melanie Morelos Rachel Buller Sarah Sachs Monica Palmeira Veda Banerjee Samantha Couch Arnold Sowell Jr. Melanie Slocum Reed Addis Neal Kemkar Katelyn Roedner Sutter Sara Noelani Olsen Alex Fujinaka Erika Gudmundson Russell Mitchell Kristina Wyatt Emily Pierce Geoff Crook Clara Vondrich Douglas Norlen Kevin Stein Dave Jones

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🇺🇸An important update on California climate disclosure rules - Governor Newsom has signed the Climate Corporate Data Accountability Act (this rule has had many names and forms in its lifetime - SB19, SB253 and SB261 - but now we can finally all default to the CCDAA!) 📋The reporting deadlines for companies have not changed from those first proposed - reporting starts in 2026 on FY 2025 data. The CCDAA mandates disclosure of scope 1, 2, and 3 greenhouse gas emissions and climate-related financial risks, all based on the TCFD framework (more detail in Watershed’s guide). 🌎But step back from the detail for a second - This is a huge moment for the fight against climate change in the US. The rule applies to thousands of large companies across the country that are doing business in California, not just those based there, and the transparency and comparability of all this new climate data will help drive down emissions across the worlds largest economy. Congratulations to Scott Wiener and Henry Stern for such a vital piece of policy-making. https://lnkd.in/e8uHpNiP #ghgemissions #sustainability #CCDAA

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CA climate disclosures potentially delayed until 2028 Governor Newsom has proposed an amendment delaying the CA climate law (SB 253) requiring disclosure of Scope 1 and 2 until 2028. The intent is to ensure the applicabilty and requirements are clear, and that CARB is fully set up to receive the information. Newsom has also proposed delaying the implementation of SB 261, dubbed the ‘Climate-Related Financial Risk Act’, from 2026 to 2028. The amendment will be voted on by lawmakers next month. Disclosure delays for clarity and effectiveness? Probably good. No one wants to be frustrated by a quick implementation timeline, unclear requirements or a disclosure portal that breaks down. Companies need time to put regulatory controls in place as well. While they do their work, we can keep making progress on climate transition plans and investments. Onwards, together. https://lnkd.in/e_8c-mMn

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Watershed has hosted some fantastic policy webinars recently, and California's new climate disclosure rules have been a consistent topic of conversation. We get lots of questions form sustainability leaders about the CCDAA, so thought it would be helpful to call out some answers to common questions, highlighted by the experts on our webinars: 1️⃣ The clip from Rob Jackson below is an excellent summary of the key point on the US elections. Not only are the California rules still happening, they have become even more important in the absence of the SEC's disclosure rule. 2️⃣ The CCDAA is subject to a local legal challenge. But as Senator Scott Wiener said on last week's webinar - The defence feel very good about their case. Rob also explained the key differences with the SEC legal challenge, and the weaknesses of the case against the CCDAA. For companies, don't let it distract you from your compliance efforts, which need to start now if they haven't already. 3️⃣ You can use reporting for other regulations to comply with the CCDAA, if you're covering the correct data disclosures. In practice, that means you can use reporting for most other regulations, and certainly the EU's CSRD. But, we are waiting on the local regulator (CARB) to set out how that will work in practice, so for now it's best to assume you'll need to create separate reporting for the CCDAA. #CCDAA #sustainability #climatedisclosure

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If you have questions about the new climate legislation or need support with emission accounting and climate risk assessments, our teams of experts are here to help!

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We just published a new podcast episode of #InOurHands with Nigel Sizer, a globally recognized authority on ecology and development policy, and executive director at Preventing Pandemics at the Source Initiative. We discuss everyone's least favorite but most important topic: the connection between pandemics and climate change. Listen or read to learn more (spoiler: deforestation and forest trade are some of the reasons, and we need to fix this). https://lnkd.in/gsvi_RDW

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High-integrity carbon markets are both necessary and possible that's what The White House is saying with this new policy statement. It's a big and much-needed signal to companies who want to take additional climate action. Very happy to see that these guidelines cover climate solutions from all sectors – because we need them all. Nature based solutions can provide at least one third of the climate action needed, are already available and go directly to supporting local communities in the US and in the Global South, but only receive 3% of climate funding. Markets can help change that. https://lnkd.in/ghcdVm8A

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I've been having a lot of chats lately about California's new climate disclosure rules in my role as a consultant. It's been exciting to talk about what these changes could mean for businesses, stakeholders, and the future of transparency. I'm excited to see the requirements kick in and to see the impact they'll have on how we tackle climate risks and opportunities. It is a big step forward for accountability and positive environmental action! What do you think about the potential effects of these disclosures? #sustainability #carbonemissions #california #esg

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Q&A: #Sustainability leaders on preparing for California’s climate rules; leaders discuss what it will likely take to comply, including how #ESG controllers can help. https://lnkd.in/gmASZbNy

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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

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The Bay Area Equity Atlas, a powerful tool for community leaders, continues to drive equitable, sustainable, and resilient growth in our region. We know that robust disaggregated data is crucial for informing action strategies, but data alone cannot fully capture the complexities of life in the Bay Area. That’s why we’re excited to share "In Their Own Words," a data-driven storytelling series amplifying the voices and lived experiences of Bay Area residents. This ongoing series of resident profiles explores the challenges and inequities our communities face while celebrating grassroots solutions and community efforts that advance equity. By humanizing the data with personal stories, we shed light on the nuances and perspectives often overlooked in traditional research. Discover the resilience and innovation within our communities. Let these stories inspire you to take action and join us in the fight for equity. Explore the interactive story map and delve into each powerful story. https://lnkd.in/gcfAyD6R #Equity #Storytelling #CommunityVoices #BayArea #DataDriven #InTheirOwnWords

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Are You Ready for California's New Climate Disclosure Laws? California businesses, it's time to get prepared! Governor Newsom's revised budget allocates funding for the implementation of SB 253 and SB 261, the climate disclosure bills passed in 2023. These laws require companies exceeding certain revenue thresholds to disclose: Greenhouse gas emissions (SB 253) Climate-related financial risks (SB 261) The California Air Resources Board (CARB) will be overseeing the implementation process. Does your business fall under these regulations? Start familiarizing yourself with the requirements now to ensure a smooth transition. #California #ClimateChange #Sustainability

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I don't think I can adequately articulate all the reasons why I am excited (potentially disproportionately) about this. First, its great to see policymakers acknowledging the need for supply chain-wide #emissions #disclosures. Next, it's fantastic to see this kind of development in the face of the #ESG 'backlash'. Of course, it's also good to see an ambitious goal, coupled with a pragmatic approach to achieving it (though I would've preferred an earlier start date). Then there's the fact that this can set a precedent for other states - and even policymakers in other markets! - on how to set standards that essentially act as small(er) scale unliteral coercive mechanisms. Maybe it's just caught me in an optimistic mood, but I am really pleased I woke up to this headline this morning. https://lnkd.in/dN3Gv7eh

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The more I cover energy and environment, the more obvious it becomes how much the climate coalition is not aligned on strategy, on how to actually make change happen. Case in point: Manchin's new permitting bill. It's undeniable that permitting and siting rules, environmental reviews, and litigation are making it nearly impossible to build enough clean energy, killing countless projects before they get off the ground. The Manchin-Barrasso bill proposes to fix a lot of the problems, giving clean energy and transmission a more equal footing with fossil fuels (which currently have a much easier process). But it also gives some big concessions to the oil and gas industry. The Sierra Club, Earthjustice, and the Center for Biological Diversity are among those who adamantly oppose this bill. But everyone in the clean energy world is thrilled, convinced the concessions are worth it to ensure clean energy can actually compete with the fossil fuels they're trying to replace. So who's right, and why the disagreement? I captured the growing rifts in the climate coalition in my latest for NOTUS:

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💡CA Legislative Recap and Special Session Update 💡   California's 2024 legislative session wrapped up at the end of August, showcasing advancements in climate-related legislation, as detailed in a recent two-part article. Key highlights include enhanced regulatory guidance to meet clean energy targets, improved oversight aimed at lowering costs for ratepayers and streamlined permitting for industrial decarbonization projects. The ongoing special legislative session is also tackling gas price spikes while introducing new proposals from Assembly Republicans. With California continuing to lead the way in climate action, these developments are vital for shaping a sustainable future! Part 1: https://lnkd.in/gKpXTaRf Part 2: https://lnkd.in/gePMAEZA #California #Climate #CaliforniaLegislation #CALegislation #CALegislation2024 #Sustainability #WCI #CACompliance

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