The California Air Resources Board (CARB) recently announced an update regarding implementation of the California Climate Corporate Data Accountability Act (Senate Bill 253).
CARB deferred the deadline for entities to report Scope 1 and Scope 2 greenhouse gas (GHG) emissions from August 10, 2026 to November 10, 2026.
While the timing for compliance has changed, the underlying requirements of the law remain unchanged.
As a reminder, SB 253 requires entities with over $1 billion in annual revenue doing business in California to publicly disclose GHG emissions, including Scope 1, 2, and 3 emissions.
Credit unions that are subject to SB 253 should use this additional time to continue evaluating their reporting processes and prepare for the anticipated approval and formal adoption of CARB’s proposed regulations.
In February 2026, CARB approved the Initial Regulation under SB 253 and submitted the regulation to the Office of Administrative Law (OAL) for approval. However, on June 24, 2026, CARB withdrew its initial SB 253 rulemaking package from OAL.
CARB intends to propose limited revisions to the regulation to clarify certain reporting requirements. The proposed changes will be released for a 15-day public comment period before CARB resubmits the rulemaking package to OAL. In addition, CARB will host a public workshop on July 21, with workshop materials expected to be available on July 20.
For additional background on SB 253 and SB 261, including California’s Credit Unions’ executive summary of the laws and their requirements, please refer to the League’s previous communication on the implementation status of California’s climate disclosure laws, as well as the CARB’s resources page, which includes information on the rulemaking process, reporting requirements, and other implementation materials.
Contact Lisa Quaranta, Senior Vice President of Regulatory Advocacy, for questions.
For more information, email Lisa Quaranta.
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Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
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For more information, email Lisa Quaranta.
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