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As public companies anticipate the Securities and Exchange Commission’s (“SEC”) final climate disclosure rules, which are expected to be released sometime fourth quarter of 2023, California has beaten the federal government to the punch.
In an ambitious step toward New York state’s climate goals, the New York State Climate Action Council approved a Scoping Plan on December 19, 2022, which sets forth a series of recommended policies and actions.
On March 8, 2022, the Science Based Targets initiative (“SBTi”) announced that it would “no longer accept commitments or validate targets from fossil fuel companies” until it completes development of sector-specific criteria for such targets.
On October 15, 2021, the FAR Council published a Federal Register Notice announcing the opening of a public comment period on potential amendments to the Federal Acquisition Regulation to address climate-related financial risks.