Long-awaited climate risk reporting rules from the US Securities and Exchange Commission issued in the days before CERAWeek arrived against the background of high expectations mixed with widespread consternation about the details of the rule. The world’s largest and most sophisticated capital market will for the first time now obligate reporting on material climate risks from large publicly-listed corporations, but the rules also shied away from creating a new reporting process with higher compliance hurdles but arguably greater climate impact. As industry, investors, capital allocators and the global financial and regulatory community absorb the details of the new SEC climate risk rules, S&P Global has gathered a cross-section of experts to discuss initial reactions and map out the diverse pathways for action by affected firms.