Governor Proposed Two-Year Delays for Implementing Regulations and Initial Reporting of GHG Emissions and Climate Risks
Legislature Ultimately Postponed Implementing Regulations by Six Months Without Delaying Initial Reporting
Proposed Amendments to the Voluntary Carbon Market Disclosures Act Failed to Pass
On August 31, 2024, the California Legislature passed Senate Bill No. 219 (SB 219) to amend the Climate Corporate Data Accountability Act (SB 253) and the Climate-Related Financial Risk Act (SB 261). Unless the California Governor vetoes SB 219, SB 219 amends SB 253 to provide the California Air Resources Board until July 1, 2025 to issue implementing regulations, postponing the original deadline by six months, among other amendments to both SB 253 and SB 261. The California Legislature also introduced Assembly Bill No. 2331 to clarify aspects of the Voluntary Carbon Market Disclosures Act (AB 1305), including the initial reporting date, but the bill did not pass the Legislature before the close of the legislative session.
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