ESG Today: California lawmakers threaten regulator over delayed enforcement of climate reporting law, and more...

California State Senators Scott Wiener and Henry Stern, authors of recently-passed legislation requiring large companies to disclose their value chain emissions and report on climate-related financial risks, have sent a letter to the California Air Resources Board (CARB), threatening the regulator with legislative oversight hearings over its plans to delay enforcement of the new climate reporting regulation.
The letter follows the release of an enforcement notice earlier this month by CARB announcing that it will ease the new emissions reporting requirements and not pursue enforcement action in the first year of reporting, in order to give companies more time to prepare to comply with the new rules, as long as companies make good-faith efforts at compliance. Wiener and Stern called CARB’s notice “unacceptable,” stating that it “does not appear to require full compliance with the law.”