In our conversations with corporate clients, we often find ourselves saying “stay tuned” to evolving issues or topics. Lately, the tempo has picked up for that expression, with important corporate disclosure and reporting requirements in various stages of development around the world. 

In the United States, a nation that is formally a confederation of 50 independent states, one state’s economy looms particularly large: California. By itself, the Golden State is the fifth or sixth largest economy in the world (depending on who is counting). The U.S. as a whole, including California, had an estimated GDP of US$21.5 trillion in 2019. Of that total, California accounted for $3.2 trillion – larger than the GDPs of France, India, and the UK, and about equal to Germany’s. 

And so, here at G&A we stay especially tuned in to developments in the Golden State, and today's Issue Brief is about pending California legislation (SB 260: Climate Corporate Accountability Act) that could affect many California-based companies, along with firms headquartered elsewhere that have significant operations in the state. (Calling all auto and truck makers, cement manufacturers, diversified industrial holding companies, airlines, consumer marketers and many others.)

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