Will climate disclosure impact California businesses? Yes, and that's a good thing! In this video, Persefoni's Anissa Vasquez, Global ESG Policy Manager, discusses how companies are already benefiting from climate disclosure practices in California. She also shares tips on how businesses can best prepare for SB253 and SB261, two new California laws that, if passed, would require businesses to disclose their climate-related financial risks and greenhouse gas (GHG) emissions.
In this video, you will learn:
- How climate disclosure can help businesses identify and manage climate-related risks
- How businesses are already benefiting from climate disclosure practices in California
- How to best prepare for SB253 and SB261
To learn more about climate disclosure in California, visit the following resources:
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Transcript
Anissa
Climate risk will affect Californian businesses. Or any company doing business in California, especially if you don't act. Why? Climate risk is financial risk, and without the right kinds of data, investors cannot make informed decisions on their investments. Disclosure is a good thing for investors, business and the environment. 81% of Californian companies reporting to the CDP disclosed inherent benefits to their business from climate-related regulation.
Carbon emissions are a top indicator of a company's climate risk, which is why California climate bills SB 253 and 261 are so critical to the future of doing business. So, how can you prepare? By beginning or maturing your carbon accounting process and setting up internal controls and climate management practices. Software helps automate these processes and allows for more control, accuracy and the ability to show your work
Following the TCFD will help ensure consistency and comparability in disclosed information. This is how U.S. businesses and the entire economy remains a global leader, and it starts with California.
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