climate-risk-disclosure-act-support-051121-45b453a6c238a69e.pdf

The document is a formal letter of support for the Climate Risk Disclosure Act of 2021, arguing that standardized climate risk reporting is essential for investor protection and financial stability. It highlights that current corporate disclosures are unstandardized and insufficient, while noting that the U.S. Commodity Futures Trading Commission has identified climate change as a major risk to the U.S. financial system.

• The Climate Risk Disclosure Act of 2021 is viewed as a necessary measure to provide shareholders with the data required to mitigate legal, physical, and financial risks associated with climate change, which in turn supports the transition to a low-carbon economy and reduces financial instability.
• Current climate-related disclosures by companies are described as insufficient and inconsistent, making it difficult for regulators and investors to analyze the data.
• Fossil fuel companies specifically face immediate climate-related threats, including infrastructure damage from flooding, the risk of stranded assets due to the low-carbon transition, and legal actions from municipalities for adaptation costs.
• The U.S. Commodity Futures Trading Commission has reported that climate change represents a significant threat to the stability of the financial system in the United States, necessitating urgent action to measure and address these risks.
• The proposed legislation aligns with the demands of the international financial community, including 545 global investors managing over $52 trillion in assets through the Climate Action 100+ initiative.

APA

Union of Concerned Scientists (2021). climate-risk-disclosure-act-support-051121-45b453a6c238a69e.pdf. https://ucsusa.org/sites/default/files/2021-05/climate-risk-disclosure-act-support-051121.pdf

Chicago

Union of Concerned Scientists. climate-risk-disclosure-act-support-051121-45b453a6c238a69e.pdf. 2021. https://ucsusa.org/sites/default/files/2021-05/climate-risk-disclosure-act-support-051121.pdf.

Wikipedia

{{cite press release |author=Union of Concerned Scientists |title=climate-risk-disclosure-act-support-051121-45b453a6c238a69e.pdf |date=11 May 2021 |url=https://ucsusa.org/sites/default/files/2021-05/climate-risk-disclosure-act-support-051121.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{unionofconcernedscientists2021climateriskdisclosureactsupport05112145b453a6c238a69epdf, author = {{Union of Concerned Scientists}}, title = {{climate-risk-disclosure-act-support-051121-45b453a6c238a69e.pdf}}, publisher = {Union of Concerned Scientists}, year = {2021}, month = may, url = {https://ucsusa.org/sites/default/files/2021-05/climate-risk-disclosure-act-support-051121.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }