New CA Laws Mandate Climate Risk Disclosures

In early October, California ­Governor Gavin Newsom signed sweeping emissions disclosure laws requiring any company doing business in ­California and making at least $500 million in annual revenue to disclose direct and indirect upstream and downstream greenhouse gas emissions and their coinciding financial impacts. Under the Climate Accountability Package, companies must comply with the laws or face up to $500,000 in fines per reporting year, imposed by the California Air Resources Board.