This bill requires corporations with total annual revenues greater than $500,000,000 to prepare “climate-related financial risk reports” on an annual basis that document their “climate-related financial risks.” CPAC opposes the government’s attempts to direct the course of industry toward ESG objectives, recognizes that this measure is a primer for these efforts, and opposed this bill. The Senate passed this bill on September 13, 2023 by a vote of 28-8 and the bill later became law.