; and (C) the transition impacts that result as the global economy transitions to a clean and renewable energy, low-emissions economy, including financial impacts as fossil fuel assets risk becoming stranded and it becomes uneconomic for companies to develop fossil fuel assets as policymakers act to limit the worst impacts of climate change by keeping the rise in average global temperature to 1.5 degrees Celsius above pre-industrial levels; (3) assessing the potential impact of climate-related risks on national and international financial systems is an urgent concern; (4) companies have a duty to disclose financial risks that climate change presents to their investors, lenders, and insurers; (5) the Commission has a duty to promote a risk-informed securities market that is worthy of the trust of the public as families invest for their futures; (6) investors, lenders, and insurers are increasingly demanding climate risk information that is consistent, comparable, reliable, and clear; (7) including standardized, material climate change risk and opportunity disclosure that is useful for decision makers in annual reports to the Commission will increase transparency with respect to risk accumulation and exposure in financial markets; (8) requiring companies to disclose climate-related risk exposure and risk management strategies will encourage a smoother transition to a clean and renewable energy, low-emissions economy and guide capital allocation to mitigate, and adapt to, the effects of climate change and limit damages associated with climate-related events and disasters