Fenwick & West’s Post

California’s New Climate Disclosure Laws All large companies that do business in California — including A.I.-intensive companies like OpenAI and Google — will have to become a lot more transparent about their climate risks and impacts under two major climate disclosure laws signed by Gov. Gavin Newsom on October 7, 2023. The first requires all private companies with yearly global revenue above $1 billion to disclose how much carbon they produce in their operations by 2026, and in their supply chains by 2027. The second requires companies with revenue above $500 million to publish their climate-related financial risks by 2026. The rules are the first of their kind in the United States, and more than 10,000 companies may be affected. The laws will likely have impact beyond the state’s borders, as well. Source: https://nyti.ms/46sVfFe

🧠 This week we gathered our growing, hybrid team at Sustainable Ventures, where we spent two days strategising, celebrating wins, reflecting, and planning for the year ahead. Climate Policy Radar has a lot in store for 2024 -- accelerating our mission to organise, analyse and democratise data on global climate law and policy. #StrategyDay #ClimateAction #ClimatePolicy #ClimateChange #MachineLearning #AI

People rarely understand just how thirsty technology is. As our use of more complex technology grows, so too does the amount of water a #datacentre needs. Between 2015 and 2021, water consumption from data centres rose 14%, and that’s before OpenAI unveiled ChatGPT to the world. But climate change is increasing floods and droughts, and the access to water many centres were built around may not be sustainable. But in an interesting turn of events, #AI might also be the solution to the problem.

Right now, some US lawmakers introduced legislation that would require the Environmental Protection Agency to study the impact of AI on climate change. The lawmakers also want a voluntary reporting system for companies to disclose the potential climate impact of their #AI models. By Boston Consulting Group (BCG) #sustainability #climatechange

Right now, some US lawmakers introduced legislation that would require the Environmental Protection Agency to study the impact of AI on climate change. The lawmakers also want a voluntary reporting system for companies to disclose the potential climate impact of their #AI models.#sustainability #climatechange

Right now, some US lawmakers introduced legislation that would require the Environmental Protection Agency to study the impact of AI on climate change. The lawmakers also want a voluntary reporting system for companies to disclose the potential climate impact of their #AI models.#sustainability #climatechange

Right now, some US lawmakers introduced legislation that would require the Environmental Protection Agency to study the impact of AI on climate change. The lawmakers also want a voluntary reporting system for companies to disclose the potential climate impact of their #AI models.#sustainability #climatechange

🌍 Democratic lawmakers are introducing the Artificial Intelligence Environmental Impacts Act of 2024 to examine the environmental effects of AI. 🔬 The legislation assigns responsibilities to the EPA, DOE, and NIST, including developing a methodology to assess environmental impacts, studying AI's climate impact, and establishing a voluntary reporting system. 🤝 These agencies will collaborate on a joint report and provide recommendations for future legislation. 💡 This legislation demonstrates an increasing recognition of AI's energy consumption and its potential environmental impact. 📖 Read the comprehensive FedScoop article for more information. #AIEnvironment #EnvironmentalImpacts [Link to article]

SEC Pauses Climate Disclosure Rule - What to do next? The SEC's recent decision to pause its implementation of new rules aimed at enhancing climate change disclosures by public companies has sparked both surprise and uncertainty. The new rule included disclosure of both current physical risks to corporate assets and future greenhouse gas emissions - two very different paradigms. While the pause may provide companies with additional time to prepare for the new disclosure requirements, it may also create uncertainty for those progressive companies already in the process. Companies should continue to monitor developments at the SEC and be prepared to comply with any changes to the climate disclosure rules that may be forthcoming. Investors should also pay close attention to how companies are managing climate-related physical risks such as floods, natural hazards, and extreme weather, as these issues are likely to impact corporate performance and values in the years ahead. By providing meaningful and transparent disclosures, companies can enhance their reputation, build trust with investors, and contribute to a more sustainable future. "Amazon Warehouse in Illinois hit by tornado, killing 6", Dec. 20, 2021. #SEC #climatechange #disclosure #investors #sustainability #resilience #portfolioriskmanagement #riskassessment #riskfootprint

SEC’s new climate disclosure rules, federal tax credits, potential benefits of AI and updated segment disclosure requirements are topics boards and audit committees may want to discuss. Learn more here: https://lnkd.in/gHyf7tBy