When I think ahead to the major climate storylines of 2025, companies preparing for the first climate disclosures from within the United States sits near the top of that list.

Although, following November's election, it's unlikely to involve the SEC’s climate reporting rule, which proposes at the federal level that public companies disclose the risks of climate change to their businesses. The rule has been long-delayed by legal challenges, leading many U.S. companies to adopt a wait-and-see approach to assessing climate risk – believing that delaying their efforts will protect their time and operations.

In the meantime, California has officially signed its own climate disclosure bill into law and put in place a 2026 reporting date. The bill also asks large companies to understand, report and mitigate the impact of climate change, meaning the wait to assess climate risk is over in The Golden State.

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