California’s climate disclosure requirements continue to take shape.

If your company meets certain revenue thresholds and does business in California, you’ll soon need to start reporting your climate-related financial risks and greenhouse gas emissions. These new rules are set to take effect in 2026. 

Resources:

California Climate Legislation Update — Status of CARB Rulemaking and Next Steps

CARB Releases Draft Regulations and Announces Public Hearing

New York State Issues Regulations Related to Reporting of Greenhouse Gas Emissions

Designing Suitable Management-Specified Criteria for Sustainability Reporting

Stay informed of what’s happening with EU sustainability rules.

The EU regulatory landscape is evolving, with updates like the Omnibus package and European Sustainability Reporting Standards (ESRS) simplifications aiming to ease administrative requirements by delaying certain reporting deadlines and simplifying aspects of disclosure.

Companies within the scope of CSRD, CSDDD, EU Taxonomy,
and other EU regulations should stay attuned to this shifting environment and assess if they understand current and upcoming obligations.

Resources:

European Sustainability Reporting: Omnibus Legislative Developments and Updates to European Sustainability Reporting Standards

Beyond compliance: Enhancing trust through reporting

Unpacking Double Materiality under the EU CSRD

EU Commission proposes significant reduction in sustainability and due diligence reporting requirements

iGAAP in Focus: EFRAG submits draft European Sustainability Reporting Standards to the European Commission

An evolution for global sustainability reporting.

Many countries around the world are looking to ISSB’s IFRS S1 and S2 as the disclosure standard for their own sustainability reporting regulations. Stay updated on the latest developments in ISSB Standards and track which countries are adopting them.

Resources:

IAS Plus: IFRS, global financial reporting and accounting resources

Adoption of IFRS Sustainability Disclosure Standards by jurisdiction