Melanie Kuhn, Ph.D., PMP’s Post

California Governor Gavin Newsom has signed senate bill SB 219, “Greenhouse gases: climate corporate accountability: climate-related financial risk”, which represents an important step forward for the future of corporate GHG reporting and climate risk disclosure in the state. SB 219 amends and clarifies the Climate Corporate Data Accountability Act (SB 253) and the Climate-Related Financial Risk Act (SB 261). Crucially, SB 219 extends the deadline by which the California Air Resources Board's (CARB) must issue regulations under SB 253 to July 2025, while maintaining the original 2026 compliance deadline for companies. This emphasises the need for companies to begin considering and planning for data collection, even ahead of regulation finalization, to be ready to annually disclose and verify their scope 1, scope 2 and scope 3 GHG emissions. Learn more about the recent California Senate Bills here: 🔷 https://lnkd.in/grf8-zAA 🔷 https://lnkd.in/gRsr2jV5 Discover our GHG accounting, climate risk and decarbonization services here: https://lnkd.in/gNSxgXW9 #California #CorporateResponsibility #SustainabilityReporting #GHGEmissions #ClimateRisk

📣 Client alert: Final US SEC climate disclosure rule adopted – what should you know? Today the U.S. Securities and Exchange Commission (SEC) adopted a scaled-back version of the proposed climate disclosure rule, requiring public companies to disclose their greenhouse gas emissions (GHG) and climate-related risks – including the effects of physical and transition risks. Who does it impact? The rule applies to public companies reporting to the SEC, including US public companies and Foreign Private Issuers. What should you know? 1️⃣ No scope 3 emissions disclosure requirement 2️⃣ Companies must still disclose scope 1 and scope 2 emissions if material 3️⃣ Material physical and transition risks must still be disclosed, however required disclosures of impacts on financial statements are significantly reduced with a focus on expenditures actually incurred 4️⃣ SEC requires phased-in assurance of climate-related disclosures What should companies do next? To prepare for the ruling’s requirements, companies should identify gaps in their current state of climate disclosures versus what the SEC requires. Some companies may need to simply add another lens of reporting, while others may need to develop their first-ever climate disclosures. Regardless of where you are, starting to prepare early will help you efficiently navigate these new reporting obligations. To learn more about how we can help you prepare climate-related disclosures in alignment with the final SEC rule and rapidly evolving regulatory landscape, reach out to Alice Roberts, Ross Beardsley, or Ryan Dowling. View the final rule here: 👉 https://lnkd.in/ekSu_z7p Learn more from Ramboll experts on this regulation: 👉 https://lnkd.in/erK-tUBX #Sustainability #PartnerForSustainableChange #SEC #ClimateDisclosures

📣 Client alert: Final US SEC climate disclosure rule adopted – what should you know? Today the U.S. Securities and Exchange Commission (SEC) adopted a scaled-back version of the proposed climate disclosure rule, requiring public companies to disclose their greenhouse gas emissions (GHG) and climate-related risks – including the effects of physical and transition risks. Who does it impact? The rule applies to public companies reporting to the SEC, including US public companies and Foreign Private Issuers. What should you know? 1️⃣ No scope 3 emissions disclosure requirement 2️⃣ Companies must still disclose scope 1 and scope 2 emissions if material 3️⃣ Material physical and transition risks must still be disclosed, however required disclosures of impacts on financial statements are significantly reduced with a focus on expenditures actually incurred 4️⃣ SEC requires phased-in assurance of climate-related disclosures What should companies do next? To prepare for the ruling’s requirements, companies should identify gaps in their current state of climate disclosures versus what the SEC requires. Some companies may need to simply add another lens of reporting, while others may need to develop their first-ever climate disclosures. Regardless of where you are, starting to prepare early will help you efficiently navigate these new reporting obligations. To learn more about how we can help you prepare climate-related disclosures in alignment with the final SEC rule and rapidly evolving regulatory landscape, reach out to Alice Roberts, Ross Beardsley, or Ryan Dowling. View the final rule here: 👉 https://lnkd.in/ekSu_z7p Learn more from Ramboll experts on this regulation: 👉 https://lnkd.in/erK-tUBX #Sustainability #PartnerForSustainableChange #SEC #ClimateDisclosures

📣 Client alert: Final US SEC climate disclosure rule adopted – what should you know? Today the U.S. Securities and Exchange Commission (SEC) adopted a scaled-back version of the proposed climate disclosure rule, requiring public companies to disclose their greenhouse gas emissions (GHG) and climate-related risks – including the effects of physical and transition risks. Who does it impact? The rule applies to public companies reporting to the SEC, including US public companies and Foreign Private Issuers. What should you know? 1️⃣ No scope 3 emissions disclosure requirement 2️⃣ Companies must still disclose scope 1 and scope 2 emissions if material 3️⃣ Material physical and transition risks must still be disclosed, however required disclosures of impacts on financial statements are significantly reduced with a focus on expenditures actually incurred 4️⃣ SEC requires phased-in assurance of climate-related disclosures What should companies do next? To prepare for the ruling’s requirements, companies should identify gaps in their current state of climate disclosures versus what the SEC requires. Some companies may need to simply add another lens of reporting, while others may need to develop their first-ever climate disclosures. Regardless of where you are, starting to prepare early will help you efficiently navigate these new reporting obligations. To learn more about how we can help you prepare climate-related disclosures in alignment with the final SEC rule and rapidly evolving regulatory landscape, reach out to Alice Roberts, Ross Beardsley, or Ryan Dowling. View the final rule here: 👉 https://lnkd.in/ekSu_z7p Learn more from Ramboll experts on this regulation: 👉 https://lnkd.in/erK-tUBX #Sustainability #PartnerForSustainableChange #SEC #ClimateDisclosures