The Ninth Circuit Court of Appeals has stayed SB 261 pending appeal of the district court’s denial of a preliminary injunction. The stay came shortly after the Chamber of Commerce filed an emergency petition with the United States Supreme Court. The Court of Appeals denied a stay of SB 253, the Climate Corporate Data Accountability Act. The Court of Appeals provided no reasoning, but presumably this is because the California Air Resources Board has not yet finalized implementing regulations or set a compliance date. As result, covered companies do not need to comply with SB 261’s climate-related risk disclosure requirement, which was set to take effect January 1, 2026.