Environmental & Energy
Aug. 13, 2026
Judge rejects Exxon challenge to California climate disclosure law
A federal judge ruled that California's SB 261 is not preempted by federal securities law, finding the measure requires companies to disclose climate-related financial risks but does not dictate how they conduct their business.
A federal judge has rejected Exxon Mobil Corp.'s bid to block a California climate-risk reporting law, ruling that SB 261 is fundamentally a disclosure requirement -- not a law directing how companies must conduct their business.
The ruling by U.S. District Judge Daniel J. Calabretta appears to endorse a path some legal experts have suggested for California and other states increasingly at odds with the federal government: requiring companies to disclose information rather tha...
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