Supported by The Climate Center

SB 449: Climate-related financial risk

SB 449 (Stern) Californians and businesses based in the state face myriad risks associated with climate change, ranging from acute disasters to long-term trends such as droughts. Given the vast economic impacts that have occurred and will occur from climate-driven events, it is critical that businesses and financial institutions begin factoring those risks into their lending and investment decisions. SB 449 addresses this by requiring large California-based businesses to annually disclose their climate-related risks to the California Secretary of State, in accordance with the recommendations from the Task Force on Climate-Related Disclosure. These disclosures will include steps being taken by companies to reduce and adapt to climate-related risks. Read The Climate Center’s Letter of Support. STATUS: Died 2/1/22: Returned to Secretary of Senate pursuant to Joint Rule 56.