

Public companies are legally required to disclose their risks to investors, but it's a rare company that incorporates climate change into those mandatory disclosures; under a new presidential campaign platform proposal from Elizabeth Warren (disclosure: I am a donor to both Warren and Sanders's campaigns), the SEC would require public companies to incorporate two kinds of climate risk in their warnings: first, the risks of an out-of-control climate (fires, floods, etc); and second, the risks from the a transition to clean energy (collapsing fossil fuel prices). The idea is to accelerate divestiture from climate-destroying industries like oil and fracking, and to spur investors to favor companies with a plan to mitigate the effects of climate chaos on their operations.