Over the weekend, Governor Newsom signed California’s first in the nation greenhouse gas emissions disclosure and climate-related financial risk reporting legislation, which we have analyzed in previous Advisories discussing the core objectives of each bill and what to expect for implementation. In his signing messages, Governor Newsom revealed his concerns about the new laws and directed his administration to work with the legislature to seek amendments via new legislation in 2024. The following discusses the governor’s concerns and what to expect as a result.
