E2, a national, nonpartisan group of business leaders and investors, also sent a letter in support of SB 449 on behalf of their network of more than 2,600 California business leaders, writing: “Robust and high-quality disclosure of financial risk is critical to preparing for catastrophic climate change as well as navigating the early-stage impacts we are currently experiencing. While voluntary climate risk disclosures are growing as companies, firms, and institutions recognize its materiality and investors call for more transparency, the current voluntary approach is inadequate.”
