The chairman of the US Securities and Exchange Commission, Gay Gensler, has asked agency staff to submit a proposal for mandatory climate risk disclosures by the end of the year. These disclosures would cover both direct carbon emissions and those incurred by suppliers and partners in an expanded 10-K form. Besides metrics such as emissions, the financial impact of climate change, and progress towards sustainability goals, companies maybe also be required to delineate vaguer things such as their strategy to mitigate climate risk, including not just the physical climate but pressure to embark on the energy transition coming from governments and other companies, and how much that transition will cost them. Fossil fuel lobbyists have been working against the idea…