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Stranded Assets and Climate Disclosures

MCLI Recommendation: “The federal government, states, or the private sector could require companies to consider the possibility that their fossil fuel-related assets would be stranded, before making investment decisions.”

LPDD Recommendation: “State PUCs should consider the possibility of stranded assets when assessing proposals for fossil fuel infrastructure that will be paid for by ratepayers, such as electric transmission lines and (in states where electric utilities are still vertically integrated) generating facilities.”

LPDD Recommendation: “CEQ should reinstate its 2016 guidance for considering GHG emissions in NEPA review.”

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31 resources

Example Executive Branch

SEC Guidance Regarding Disclosure Related to Climate Change

The SEC promulgated a 2010 interpretive release on disclosure requirements related to climate change, requiring that companies disclose risks from decreased demand for carbon-intensive goods and servi...
Resource Private Entities

Report, Stranded Assets: A Climate Risk Challenge

The Inter-American Development Bank released a 2016 report, Stranded Assets: A Climate Risk Challenge, which offered best practices for managing investments with environmental risks, conducting risk a...
Example States and State Governments

California’s Climate Corporate Data Accountability Act

In September, 2023, California approved the Climate Corporate Data Accountability Act, which will require companies with more than $1 billion in annual revenue to disclose their carbon emissions, incl...
Resource Congress

Carbon Tracker Reports on Abandoned Oil and Gas Wells

A June 2020 report, It’s Closing Time, explains how the oil and gas industry is legally obligated to plug and abandon (P&A) wells, but it hasn’t set aside the resources to do so. The paper notes that ...
Resource Private Entities

Model Green Investment Obligations Clause

The Chancery Lane Project, a collaborative effort of UK lawyers to develop new contracts and model laws to help fight climate change, has published a model amendment to standard non leveraged investme...
Resource Local Governments

CDP Disclosure Services

CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. Each year CDP supports thousands of c...
Example States and State Governments

Massachusetts Gas Transition Order

In December 2023, the Massachusetts Department of Public Utilities issued an order to move utilities away from natural gas. The regulatory strategy prohibits gas utilities from charging customers for ...
Resource Private Entities

Report, Reporting for a Secure Climate: A model disclosure for upstream oil and gas

The Carbon Tracker Initiative has prepared a 2019 report on model disclosures for upstream oil and gas, noting that current accounting and disclosure practices offer investors little visibility over t...
Example Public Utilities

NY Utility Climate Risk Disclosure Proceeding

On October 15, 2020, the NYS Public Service Commission opened this proceeding to consider requiring investor-owned utilities to annually disclose what risks climate change poses to their companies, in...
Resource Executive Branch

Final Guidance for Federal Depts. on Consideration of GHGs in NEPA Reviews

The Council on Environmental Quality issued final guidance in 2016 on considering GHG emissions and climate change in NEPA reviews. This guidance was withdrawn by the Trump Administration in 2017.
Example Private Entities

Climate Action 100+

Climate Action 100+ is an investor initiative to pressure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. The companies targeted by this initiative inclu...
Example Public Utilities

New York Order on Incorporating Climate Impacts Into System Planning

In a 2014 Order, the New York Public Service Commission indicated that “[t]he State’s utilities should familiarize themselves with scientists’ projections for local climate change impacts on each serv...
Resource Private Entities

Report, Prospects for Gas Pipelines in the Era of Clean Energy

Rocky Mountain Institute published a 2019 report that found that, by 2035, over 90 percent of currently proposed combined-cycle gas plants, if built, would be uneconomic to run compared to the cost of...
Resource Private Entities

Report, Implementing TCFD: Strategies for Enhancing Disclosure

C2ES hosted two workshops in 2019 on improving climate-related financial disclosures consistent with the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). This br...
Example States and State Governments

Minnesota Guidance on Climate Impacts in Environmental Review

In December 2022, Minnesota updated its procedures for conducting environmental review under the Minnesota Environmental Policy Act to require developers of new highways, industrial plants, livestock ...
Resource Private Entities

PRI’s Climate Disclosure Guidance

The Principles for Responsible Investment is an investor initiative that provides guidance on assessing environmental and climate related risks. They have authored a technical guide on applying the Ta...
Resource Private Entities

Net Zero Asset Managers Initiative

The Net Zero Asset Managers initiative is an international group of asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts ...
Resource Private Entities

Task Force on Climate Related Financial Disclosures

The Task Force on Climate Related Financial Disclosures published a 2017 report providing guidance to organizations in how to assess climate-related risks and opportunities, and develop climate-relate...
Resource Executive Branch

Federal Reserve Guidance on Climate Risks to Large Banking

In December, 2022, the Federal Reserve released draft guidance that could push major banks to manage the financial threats of a warming world. The proposed guidance would apply to lenders with more th...
Example Public Utilities

New York Natural Gas Transition Proceeding

In March 2020, the New York Public Service Commission launched a natural gas planning proceeding to harmonize the state’s natural gas policies with the ambitious climate goals of the CLCPA. The commis...
Resource Executive Branch

Report, Managing Climate Risk in the Financial System

In 2020, a report commissioned by the Commodity Future Trading Commission, the federal regulators overseeing the nation’s commodities markets, concluded that climate change threatens U.S. financial ma...
Example Foreign

New Zealand’s Climate Risk Disclosure Requirements

Under New Zealand legislation announced in September 2020, large financial institutions would be required to report annually on governance, risk management and strategies for mitigating climate change...
Resource Executive Branch

SEC Rules on Climate Disclosure (Updated March 2024)

In March, 2024, the Securities and Exchange Commission adopted new rules requiring publicly traded companies to disclose financial risks to their investors caused by climate change and efforts to addr...
Resource States and State Governments

Proposed California Climate Corporate Data Accountability Act

The “California Climate Corporate Data Accountability Act” proposed in 2023 would require all companies earning at least $1 billion in revenue and doing business in the state to provide information on...
Resource States and State Governments

Report, Limiting fossil fuel production as the next big step in climate policy

The December 2018 issue of Nature Climate Change included a proposal modeling the climate impacts if California’s Division of Oil, Gas, and Geothermal Resources were to cease issuing permits for new, ...
Example States and State Governments

NY Climate Risk Expectations for Banks

New York’s Department of Financial Services (NYDFS), in an October 2020 letter, called on state-regulated financial institutions to integrate climate change-related financial risks into their business...
Resource Congress

Proposed Climate Risk Disclosure Act of 2019

The proposed Climate Risk Disclosure Act of 2019 would require disclosure to the SEC the total amount of a company’s fossil fuel-related assets, how the valuation of those assets will be affected by c...
Resource Private Entities

GRI Disclosure Standards

GRI is an independent international organization, based in Amsterdam, the Netherlands. GRI’s core product are the Sustainability Reporting Standards which are made available as a free public good. The...
Example Foreign

UK Mandatory Climate Risk Disclosures

For certain companies that do business within the UK, new climate risk reporting requirements are coming down the pipeline. On November 9, 2020, the Chancellor of the Exchequer announced that the UK w...
Resource Executive Branch

Proposed Federal Supplier Climate Risks and Resilience Rule

In November, 2022, the Dept. of Defense, General Services Administration, and NASA jointly proposed a Federal Supplier Climate Risks and Resilience Rule, which will require major Federal contractors p...
Example States and State Governments

California’s Proposed Climate Corporate Accountability Act

This first-of-its-kind legislation would require U.S-based corporations that do business in California and earn more than $1 billion in annual revenue to publicly disclose their greenhouse gas emissio...