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California’s climate disclosure laws have broad implications for businesses worldwide. In this episode, we break down the key reporting requirements, including on greenhouse gas (GHG) and climate risk, and discuss how companies—whether headquartered in California or not—can prepare.

In this episode, we discuss:

• 1:10 – Overview of California’s climate disclosure laws
• 3:45 – Scope of California SB 253
• 14:05 – Greenhouse gas reporting required by California SB 253
• 24:52 – Scope of California SB 261
• 31:42 – Climate risk reporting under the Task Force on Climate-Related Financial Disclosures (TCFD) framework
• 37:57  – Interoperability with the International Sustainability Standards Board and the European Sustainability Reporting Standards
• 39:18 – California legal challenges, activity in other states, and why companies should continue to move forward

As referenced in the episode, check out PwC’s report Still early days – A review of year two of TCFD reporting for more information on reporting in accordance with the TCFD.

About our guests
Marcin Olewinski is a PwC Assurance practice partner with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. 

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].