The investors and collaborating organizations developed this Framework through a one-year Climate Risk
Disclosure Initiative. The investors will continue to discuss activities to enhance climate risk disclosure through
the communication networks of existing investor groups focused on climate change—the Institutional Investors
Group on Climate Change (IIGCC), the Investor Network on Climate Risk (INCR), and the Investor Group on
Climate Change. The investor groups will also continue discussions with two collaborating organizations—the
Carbon Disclosure Project and the Global Reporting Initiative—the leading voluntary efforts to standardize climate
risk disclosure and reporting worldwide. Climate risk disclosure is a burgeoning field, as companies, investors,
governments, and civil society increasingly understand the risks and opportunities that climate change poses for
companies and investors. The investor groups and collaborating organizations plan to meet periodically to discuss
developments in climate risk disclosure.