SB 261 – Senate Environmental Quality Committee

Climate Financial Risk Disclosure

California’s economy is increasingly vulnerable to the effects of climate change, whether it’s sea level rise impacting the coast, ongoing droughts affecting agriculture, fishing and critical ecosystems, or wildfires devastating entire communities. However, the financial and economic risks of climate change are not widely disclosed or evaluated. SB 261 requires corporations and financial institutions with at least $500 million in revenues to annually disclose their climate-related financial risk, beginning in 2026. This bill was a cornerstone of the Climate Accountability Bill package.

Author: Henry Stern, Josh Becker, Lena Gonzalez, and Scott Wiener

View Bill

Bill info from the legislature

Issues: Clean Energy Economy

Signed into Law

Top Priority Bill Top Priority Bill

Status:

Signed into Law

Assembly:

47 Yes
17 No
16 Abstain

Senate:

28 Yes
8 No
4 Abstain

Governor:

Signed

SB 261 – Senate Environmental Quality Committee VotesVote Date: 3/15/23