New York S03697 mandates climate-related financial risk reporting by entities with over $500 million in annual revenue.

New York S03697 requires certain entities with over $500 million in annual revenue to report on climate-related financial risks. These risks include material harm to financial outcomes due to physical and transition risks. The Department of Financial Services will oversee the reporting process, which must be made publicly available on the entity's website. The bill defines "climate-related financial risk" and establishes a Climate-Related Financial Risk Disclosure Fund to manage fees collected from reporting entities.

New York S03697 mandates climate-related financial risk reporting by entities with over $500 million in annual revenue.

New York S03697 requires certain entities with over $500 million in annual revenue to report on climate-related financial risks. These risks include material harm to financial outcomes due to physical and transition risks. The Department of Financial Services will oversee the reporting process, which must be made publicly available on the entity's website. The bill defines "climate-related financial risk" and establishes a Climate-Related Financial Risk Disclosure Fund to manage fees collected from reporting entities.