Leading businesses today called on California lawmakers and Gov. Gavin Newsom to fully fund the implementation of the state’s landmark corporate climate disclosure legislation.
Passed in 2023 with significant company and investor support, SB 253 and SB 261 – collectively referred to as the Climate Accountability Package – are historic risk management and corporate transparency measures. Once they are implemented, large public and private companies that do business in California will begin reporting their impacts on climate change throughout their supply and value chains, as well as the steps they are taking to prepare their businesses for the risks of climate change.
Businesses Support Transparency Measures
“Patagonia has been voluntarily measuring our carbon emissions, including our Scope 3, since 2015,” said Patagonia CEO Ryan Gellert. “By measuring this—because we understand the damage we inflict on nature—we are taking responsibility and radically cutting our pollution by transforming how we make products and work with our supply chain partners. All companies should be held accountable for their contributions to the climate crisis, and this legislation will help because finding solutions requires transparency and consistent, reliable data.”
Everlane Committed to Sustainability
“At Everlane, we are committed to leaving the fashion industry cleaner than we found it in 2011 when we launched our first product. We understand that this is not something we can do alone, so we’re dedicated to measuring and disclosing our impacts, goals, and progress, and supporting key legislation that will help move our industry (and others) forward. We recently released our 2023 Impact Report, and are proud to announce that we have achieved a 38% absolute reduction across Scope 1-3 emissions compared to our 2019 baseline, which equates to a 24% decrease in Scope 3 per-product emissions,” said Katina Boutis, director of sustainability, Everlane.
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REI Calls for Full Funding
“Businesses have a responsibility to use not just their voices but their operations to ensure the long-term health of the planet,” said Andrew Dempsey, Director of Climate at REI Co-op. “REI was proud to support SB 253 and SB 261 because we believe they provide businesses a strong framework to account for their carbon emissions and climate risks, a key step towards enabling them to measure, verify, and achieve their climate targets. We now urge policymakers to fully fund these important programs to reduce the risks to the economy, the planet, and the natural environment that is central to REI’s mission.”
California Leadership in Climate Disclosure
“California last year proved its leadership by passing the nation’s first-ever climate disclosure policy, which will reduce risks to the state and national economy by providing unprecedented insight into how companies are managing the vast financial threats posed by the climate crisis,” said Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets. “Today, the call from leading businesses is clear: California must not delay in delivering these needed insights for investors, consumers, businesses, and other stakeholders. Now is the time to fully fund the implementation of SB 253 and SB 261.”
Released first by Ceres
