A multidisciplinary team of experts from J.S. Held provides technical insights related to California Senate Bill 253, the Climate Corporate Data Accountability Act, mandating carbon reporting for large companies.
JERICHO, N.Y., Sept. 26, 2023 /PRNewswire-PRWeb/ -- Global Consulting Firm J.S. Held announces via Crosscurrents, their platform for sharing expert insights related to environmental, social & governance, an important overview of California Senate Bill 253, the Climate Corporate Data Accountability Act. California Senate Bill 253, anticipated to go into effect in 2026, introduces mandatory climate disclosure requirements for large companies. Beginning in 2026, companies with revenues of more than $1 billion that do business in California will be required to disclose annually Scope 1, 2, and beginning in 2027, Scope 3 emissions.
Available here, in Crosscurrents: California's Senate Bill 253 Mandates Carbon Reporting for Large Companies:
- provides an overview of the Climate Corporate Data Accountability Act;
- shares what companies need to know related to the Scope 1, 2, and 3 emission reporting requirements;
- addresses regulatory oversight and key reporting requirements;
- explores independent third-party assurance reporting.
John Peiserich, Esq., J.S. Held Senior Vice President who specializes in environmental risk and compliance strategy related to Federal, State, and local regulatory programs that impact industry, comments on the bill, "Bill 253's allowance for common reporting when required by other regulatory programs may benefit large companies by providing a means to harmonize climate disclosure requirements."
Steven Andersen, who joined J.S. Held following the company's acquisition of Frostbyte Consulting, is Senior Vice President, Environmental Health and Safety, & Digital Solutions and advises clients on a wide variety of environmental issues, focusing on corporate programs and data management systems to support proactive management of ESG risks and opportunities. Steven Andersen notes that California Senate Bill 253 requires public disclosure must be made in a form that "maximizes access to consumers, investors and other stakeholders" to the data and is made in an easily understood fashion. Bill 253 directs the California State Air Resources Board to create the regulatory requirements in such a way that the reporting required by Bill 253 can be met by other reports required by other national and international reporting requirements. Based on this, companies must look for opportunities to harmonize reporting processes to comply and to make the process more efficient and cost-effective.
John Peiserich notes that clarifying penalties, assurance, and regulatory safeguards to ensure compliance is pivotal to Bill 253. To ensure that the reporting is accurate, Bill 253 requires independent third-party assurance. As part of the disclosure, the reporting entity must include a copy of the complete assurance report. The State Board is also directed to include in the regulatory program a system of administrative penalties for non-filing, late filing, or other failures to meet the requirements of Bill 253 and the State Board regulatory program.
J.S. Held's multi-disciplinary team is well positioned to assist clients in achieving compliance. Our diverse backgrounds and skillsets allow us to offer a wide range of unique environmental, social, and governance (ESG) and EHS technology services and support– from end-to-end software implementation to process optimization, management solutions, governance, and regulatory compliance consulting. Organizations across the globe retain J.S. Held experts to deliver comprehensive environmental compliance and risk management services, including compliance audits and risk assessments; due diligence during mergers and acquisitions; Environmental Management System (EMS) development and implementation; permitting and project planning assistance; regulatory agency interfacing and rulemaking advocacy; independent monitorships; and consultation on environmental, social, and governance topics. As Bill 253 pushes forward the evolving environmental field, J.S. Held remains committed to offering clients a wide range of unique services and support, ensuring they stay ahead in this dynamic landscape.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through our affiliate, Ocean Tomo Investment Group, LLC, member FINRA/SIPC. All rights reserved.
Media Contact
Kristi L Stathis, J.S. Held, 773 294 4360, [email protected], JSHeld.com
SOURCE J.S. Held
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