New York Climate Disclosure Bills: Where Things Stand

New York has been moving toward its own version of California's climate disclosure laws for several legislative sessions, and as of mid 2026, it's closer than it's ever been, but it's important to be precise here: as of this writing, New York does not yet have an enacted climate disclosure law. What exists are bills, at different stages of the legislative process, closely modeled on California's approach.

This article reflects the legislative status as of July 2026, which may have changed. This is general information, not legal advice, consult qualified counsel and check current bill status before relying on any deadline mentioned here.

The Two Bills

New York's approach mirrors California's two law structure. The Climate Corporate Data Accountability Act, New York's equivalent of SB 253, would require large companies to disclose Scope 1, 2, and eventually Scope 3 greenhouse gas emissions. A companion bill, closely mirroring SB 261, would require covered entities to prepare a climate related financial risk report explicitly following the TCFD framework or an equivalent standard, such as the IFRS Sustainability Disclosure Standards.

Proposed Thresholds and Timeline

As currently drafted, the emissions disclosure bill would apply to entities formed under U.S. law doing business in New York with total revenues exceeding $1 billion, requiring Scope 1 and 2 disclosure starting with fiscal year 2027 data and Scope 3 disclosure following for fiscal year 2028 or 2029 data, depending on the specific bill version. The companion climate risk bill, at a lower $500 million threshold matching SB 261, would require a biennial climate related financial risk report, with an initial proposed deadline around January 1, 2028 in some drafts. Noncompliance provisions in various versions have included civil penalties as high as $100,000 per day for willful violations.

How It Compares to California

The frameworks are intentionally similar. Both use a two law structure separating emissions disclosure from financial risk disclosure. Both set thresholds in the same general range. Both reference TCFD and, increasingly, the IFRS Sustainability Disclosure Standards as acceptable reporting frameworks. For a company already building compliance capability for California's laws, preparing for New York's proposed requirements adds relatively little incremental work, the underlying data systems and reporting processes largely overlap.

What Companies Should Do

Given how closely New York's proposal tracks California's, and how far along SB 253 and SB 261 already are, treating New York's bills as a "when," not "if," planning assumption is reasonable, even while they remain unenacted. Companies with significant New York exposure should track the bills' progress through the Assembly and monitor for a Governor's signature, but shouldn't wait for final passage to begin building the same underlying emissions and risk disclosure capability California already requires.