September 1, 2026
Early Trends in Climate Risk Reporting in California
Lessons from Initial Voluntary Corporate Reports Under California’s SB 261
A Joint Research Paper from G&A and Ceres
Climate-related disclosures have become increasingly relevant for corporate boards, sustainability teams, and investors as California’s SB 261 moves toward mandatory enforcement. However, identifying, assessing, and managing climate-related financial risks requires data and structures that many organizations are only beginning to build.
What this resource paper includes:
An overview of how companies are approaching SB 261’s four disclosure pillars: Governance, Strategy, Risk Management, and Metrics and Targets
Perspectives from both G&A and Ceres on what early disclosure practices mean for companies, investors, and regulators
Context on how initial voluntary disclosures compare to CARB’s SB 261 Disclosure Checklist and how they may evolve as mandatory compliance takes effect
What You’ll Learn
This research is designed to help businesses and investors better understand current SB 261 disclosure practices by providing a data-driven analysis of 154 voluntary reports submitted to CARB’s public docket as of early May 2026. Developed jointly by G&A and Ceres, the research pairs G&A’s report-level data analysis with Ceres’ deep knowledge of corporate and investor perspectives. It distills this initial set of SB 261 disclosures into measurable indicators that can be used going forward to compare corporate climate risk reporting against CARB’s minimum requirements.
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June 11, 2026
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