As previously reported, California has enacted two new climate disclosure laws, Senate Bills (SB) 261 and SB 253, that affect certain credit unions and other businesses.
Here’s a breakdown of the key requirements and deadlines.
SB 261 requires businesses, including credit unions, with over $500 million in annual revenue to publish a climate-related financial risk report on their website every two years.
It’s important to note that the CARB checklist is a draft is a starting off point and it is subject to change without notice, and CARB does not guarantee the accuracy of this guidance and disclaims any responsibility for any errors or omissions in the guidance.
You can find CARB’s draft checklist here.
SB 253 requires businesses, including credit unions, with over $1 billion in annual revenue to report their greenhouse gas emissions.
Credit unions subject to SB 261 and/or SB 253 may also visit CARB’s website for additional information.
For more information, email Lisa Quaranta.
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:
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!
Additionally, other League-member compliance resources include:
For more information, email Lisa Quaranta.
Powered by ViClarity, a California and Nevada Credit Union Leagues company.
