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After years of conference room discussions and think tank white papers calling for new rules to push companies to detail the risk climate change poses to their business, a new era of climate disclosure is finally upon us.

Over the last year, rules requiring companies to publicly outline their climate vulnerabilities and plans to decarbonize have taken off. The European Union’s climate disclosure rule, which goes into effect in January, will require companies to disclose material risks that climate change poses to corporate bottom lines as well as how companies’ operations materially impact the environment. The U.S. Securities and Exchange Commission is finalizing a pr…