NEJM November 3, 2023
Emily Senay, MD, MPH,, Iris Liu, MM, MMS, Gabriella Mickel, Joseph Bialowitz, MS, MSc, Todd Cort, MS, PhD, PE, Jodi D. Sherman, MD

Although the SEC regulatory disclosures proposal is directed at certain publicly traded for-profit entities, the effect will likely impact nonprofit health care organization climate risk assessments and disclosures.


The climate crisis is an emerging threat to U.S. financial stability. Costs related to infrastructure damage and business interruptions from weather- and climate-related disasters have risen steadily since 1980. At the same time, averting catastrophic global warming necessitates a rapid transition from fossil fuels to clean energy sources — and costs associated with the energy transition are estimated to be in the trillions of dollars annually. Growing concern about the climate threat to financial systems is reshaping how businesses, investors, financial institutions, and regulators approach climate-related financial risks. As part of...

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