On October 7, 2023, Governor Newsom signed SB 253, SB 261, and AB 1167 into law to set stricter standards for corporate polluters.
SB 253, the Climate Corporate Data Accountability Act, requires U.S.-based corporations doing business in California that make over $1 billion annually to publicly disclose their full carbon footprint.
SB 261, the Climate-Related Financial Risk Act, requires corporations, financial institutions, and insurers to report on climate-related financial risk.
AB 1167, the Orphan Well Bonding Requirements Act, makes the owners of orphaned and idle oil and gas wells pay for properly closing them to protect our communities and our climate — instead of taxpayers.
Corporate lobbyists pressured the governor to veto these bills, but thousands of Californians spoke up to demand accountability. Thank you, Governor Newsom, for putting people before polluters and signing these bills!