; (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; 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 such risks; (B) detail any implications such risks 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