- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-01-30T21:20:00
A coalition of business groups filed a lawsuit opposing two California laws that require large businesses to make climate-related disclosures, calling it a fight against illegal and excessive government overreach.
The U.S. Chamber of Commerce, the American Farm Bureau Federation, the California Chamber of Commerce, and several other state business organizations filed the lawsuit Tuesday in U.S. District Court for the Central District of California.
Signed by California Gov. Gavin Newsom in October, the “Climate Corporate Data Accountability Act” (SB 253) will require companies with more than $1 billion in revenue doing business in the state to disclose greenhouse gas (GHG) emissions each year to a reporting organization contracted by California Air Resources Board.
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The Securities and Exchange Commission delayed implementation of its climate-related disclosure rule until the courts can rule on appeals filed in response to the controversial policy.
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