California takes legal action against oil giants over climate change as it advances renewable energy policies

California filed a lawsuit against major oil companies alleging public deception about climate change risks.
The state is seeking to establish a fund financed by the companies to address climate impacts.
California legislators passed bills requiring large companies to disclose emissions and climate risks.
Governor Newsom plans to sign the corporate climate transparency bills into law.
The oil industry argues the legal actions and policies could negatively impact businesses and the economy.