; and (9) a critical component in fighting climate change is a transparent accounting of the risks that climate change presents and the implications of continued inaction with respect to climate change. 4. Findings Congress finds that— (1) short-, medium-, and long-term financial and economic risks and opportunities relating to climate change, and the national and global reduction of greenhouse gas emissions, constitute information that issuers— (A) may reasonably expect to affect shareholder decision making; and (B) should regularly identify, evaluate, and disclose; and (2) the disclosure of information described in paragraph (1) should— (A) identify, and evaluate— (i) material physical and transition risks posed by climate change; and (ii) the potential financial impact of risks described in clause (i); (B) detail any implications that the risks described in subparagraph (A)(i) have on corporate strategy; (C) detail any board-level oversight of material climate-related risks and opportunities; (D) allow for intra- and cross-industry comparison, to the extent practicable, of climate-related risk exposure through the inclusion of standardized industry-specific and sector-specific disclosure metrics, as identified by the Commission, in consultation with the appropriate climate principals; (E) allow for tracking of performance over time with respect to mitigating climate risk exposure; and (F) incorporate a price on greenhouse gas emissions in financial analyses that reflects, at minimum, the social cost of carbon that is attributable to issuers. 5. Disclosures relating to climate change (a) In general Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following: (s) Disclosures relating to climate change (1) Definitions In this subsection— (A) the term appropriate climate principals means— (i) the Administrator of the Environmental Protection Agency; (ii) the Secretary of Energy; (iii) the Administrator of the National Oceanic and Atmospheric Administration