New York S 5132: Relates to requiring employers to obtain an acknowledgement of receipt from employees of their sexual harassment prevention policy and sexual harassment prevention training program

Bill Text

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 Speaker Carl E. Heastie

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S05132 Summary:

BILL NOS05132 

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SAME ASSAME AS A07195

&nbsp

SPONSORHARCKHAM

&nbsp

COSPNSRGOUNARDES

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MLTSPNSR

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Add §312, Fin Serv L

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Requires certain corporations authorized to operate in the state and subject to the supervision of the department of financial services that had annual gross revenues of at least five hundred million dollars ($500,000,000) in the prior calendar year to annually prepare a climate-related financial risk report for submission to the secretary of state and to make such report available to the public.

Go to top S05132 Actions:

BILL NOS05132 

&nbsp

02/19/2025REFERRED TO BANKS

05/05/2025REPORTED AND COMMITTED TO INSURANCE

01/07/2026REFERRED TO BANKS

04/28/2026REPORTED AND COMMITTED TO INSURANCE

Go to topS05132 Committee&nbspVotes:

Go to topS05132 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05132 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5132

 2025-2026 Regular Sessions

 IN SENATE

 February 19, 2025
 ___________

 Introduced by Sens. HARCKHAM, GOUNARDES -- read twice and ordered print-
 ed, and when printed to be committed to the Committee on Banks

 AN ACT to amend the financial services law, in relation to requiring
 certain corporations to annually prepare a climate-related financial
 risk report for submission to the secretary of state and to make such
 report available to the public

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Legislative intent. The legislature finds and declares all
 2 of the following:
 3 (a) Climate change is affecting New York's environment, communities,
 4 and economy with impacts including wildfires, sea level rise, extreme
 5 weather events, extreme droughts, and associated impacts to the global
 6 economy.
 7 (b) These impacts are expected to accelerate in coming decades unless
 8 aggressive action is taken both to reduce greenhouse gas emissions and
 9 to adapt New York's environments, communities and economy.
 10 (c) Global economic and climate policy leaders have conclusively
 11 established that the long-term strength of global and local economies
 12 will depend on their ability to withstand the climate change-related
 13 risks including physical impacts, economic transitions, and policy and
 14 legal responses.
 15 (d) Failure of economic actors to adequately plan for and adapt to
 16 climate change-related risks to their businesses and to the economy will
 17 result in significant harm to New York and to individual residents and
 18 investors, in particular to financially vulnerable New York residents
 19 who are employed by, live in communities reliant on or have invested in
 20 or obtained financing from these institutions.
 21 (e) New York is a global leader in addressing climate change causes
 22 and impacts. In recent years, the state has enacted multiple legislative
 23 measures, including enacting The Climate Leadership and Community

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09768-01-5

 S. 5132 2

 1 Protection Act of 2019 that limits statewide greenhouse gas emissions to
 2 60% of 1990 levels by 2030 and 15% by 2050, the formation of the New
 3 York state Climate Action Council and the Climate Justice Working Group
 4 in 2019, and enacting the 2021 Soil Health and Climate Resiliency Act
 5 that encourages management and optimization of soil health to mitigate
 6 and adapt to climate change.
 7 (f) Leading voluntary initiatives have begun to develop frameworks for
 8 disclosure of climate change- and sustainability-related information,
 9 including the Financial Stability Board's Task Force on Climate-Related
 10 Financial Disclosures and the Sustainability Accounting Standards Board.
 11 (g) Other jurisdictions have begun to require private and public enti-
 12 ties to develop and disclose sustainability policies, including Illi-
 13 nois' Sustainable Investing Act and France's Energy Transition Law Arti-
 14 cle 173.
 15 (h) Given business and financial institutions' contributions to
 16 climate change and vulnerability to its impacts on New York and the
 17 broader economy and the state's leadership in a