Update 5/30/23
We did it! On to the Assembly!
See how your senator voted on SB 261 and SB 253 here.
Do call and thank your senators for their Yes votes!
Please call or write your State Senator by noon on Tuesday, May 31st
We know we’re sending a lot of alerts today, but the legislature is in full swing this week and addressing climate bills as you read this. This is the second of two email blasts our sister organization, 350 Bay Area Action, sent this morning. This one covers two bills coming for a vote on the Senate floor. We are publishing the information here so you can tweet it, post it on Facebook and other social media, and send it to your friends and family. And don’t forget to call your senators!
It’s crunch time in Sacramento. Let’s get SB 253 and SB 261 passed on the Senate floor!
Senate Bill 253 (Weiner)—the Climate Corporate Data Accountability Act—would require all US-based corporations that do business in California with annual gross revenues of $1 billion USD or greater to publicly disclose their greenhouse gas (GHG) emissions inventory each year, in a way that is understandable and accessible to the people of California.
At present, many of the largest corporations doing business in California are not subject to carbon reporting laws, and those that currently report their emissions often do not report their full GHG footprint. They leave out crucial aspects of their supply chain and operations. The result is a continuing lack of transparency from corporate polluters, and an inability to properly regulate them due to a lack of accurate information.
Status 6/15/23: Referred to Committee on Natural Resources (Assembly)
Senate Bill 261 (Stern)—Financial Climate Risk Disclosures—requires “covered entities” to annually prepare a Climate Risk-related Financial Disclosure document and submit it the California Air Resources Board and the Secretary of State.
Disclosure will help mitigate the risk of over- or undervaluing investments that could slow economic growth and our progress towards a healthier, more resilient, carbon-neutral future. Changes associated with a transition to a zero-carbon economy can present significant risk, but they can also create significant opportunities for promoting climate change mitigation and adaptation solutions.
Both bills establish a public right to know which companies are polluting our environmental commons, how much they are emitting, and if they are decreasing—or increasing—climate risks, offering a transparent and public way of verifying corporate claims of climate leadership.
Status 6/22/23: Set for first Assembly hearing; canceled at the request of author.
SB 253 and 261 will expose the nexus between climate and capital.
PLEASE call or write your State Senator by noon on Tuesday, May 31st.
(find your senator here)
Phone Script for SB 253:
I’m (name) from (community) and I request that Senator ____ vote ‘Yes’ on SB 253 at the upcoming Senate Floor vote.
Many of the largest corporations doing business in California—which contribute the majority of the pollution—are not publicly transparent about their carbon footprint.
The Climate Corporate Leadership and Accountability Act (SB 253) would require all large U.S.-based corporations doing business in California that make over $1 billion annually to publicly disclose their full carbon footprint in a way that is easily understandable and available to the public.
Sample Email for SB 253:
I am writing to you in support of SB 253.
Just 100 fossil fuel companies are responsible for 71% of global industrial emissions. However, the vast majority of large corporations doing business in California are not reporting their full carbon footprint to the public.
SB 253 would require U.S.-based corporations doing business in California that make over $1 billion annually to report their ENTIRE greenhouse gas footprint in a way that is easily understandable and available to the public.
Californians deserve transparency and accountability, especially from corporations responsible for so much pollution.
I strongly support SB 253 (Weiner) and respectfully request your “AYE” vote.
Thank you,
___________________
[Name]
Phone Script for SB 261:
I’m (name) from (community) and I request that Senator ____ vote ‘Yes’ on SB 261 at the upcoming Senate Floor vote.
SB 261 requires risk reporting and public disclosure of the steps large financial institutions and businesses in CA are taking to mitigate global climate change. Climate-related risk reporting is essential for effective financial planning and retaining customer confidence in the 21st century. Please vote yes on SB 261!
Sample Email for SB 261:
Please vote yes on SB 261. California is more susceptible to the growing effects of climate change than other parts of the country. To help address this challenge, SB 261 requires businesses with annual revenues of at least $500 million to report and publicly disclose the steps they are taking to mitigate and adapt to global climate change.
Disclosure of the significant financial risks from global climate change is essential for effective financial planning in the 21st century. In fact, April 8, 2022, the National Association of Insurance Commissioners, which includes California’s Insurance Commissioner, adopted a new standard for insurance companies to report their climate-related risks. Without accurate information about climate-related financial risk from all corporations, governments, money managers, companies, and consumers can only guess at strategies that will carry them through the changes that are already underway.
I strongly support SB 261 (Stern) and respectfully request your “AYE” vote.
Thank you,
___________________
[Name]
A reminder about legislative process: After bills pass their house of origin, they head to the other house where the process repeats—the bills go through the relevant committees, appropriations, and then the final floor votes.
Thank you for taking action today!
Valerie Ventre-Hutton, for the 350 Bay Area Action Legislative Committee
You can support the work of this dedicated team of volunteers here.
Photo by Markus Spiske at Pexels
