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S 3697 New York Senate · 2025 Regular Session

Relates to reporting of climate-related financial risk

Summary
Requires reporting of climate-related financial risk by certain entities; defines climate-related financial risk to mean material harm to financial outcomes of the entity due to physical and transition risks.
Issues: ✓ EnvironmentSupports EnvironmentRequires climate risk reporting by entities, advancing environmental risk management through financial transparency and accountability.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 29, 2025 Last action Mar 10, 2026
Maddy AI version diff · 1 comparison

What changed between versions

S3697 → S3697A · 4 edits
MODERATE
The bill was amended to add a new article (Article 77) to the Environmental Conservation Law and to also amend the State Finance Law, creating a new Climate-Related Financial Risk Disclosure Fund. The substantive reporting requirements for covered entities remain largely the same, but the bill now includes additional funding mechanisms and references to the new fund.
Scope change
The bill's scope was expanded to include amendments to the State Finance Law in addition to the Environmental Conservation Law, and a new Climate-Related Financial Risk Disclosure Fund was established.
FISCAL

Added a new Climate-Related Financial Risk Disclosure Fund to the State Finance Law to support climate-related financial risk reporting initiatives.

TECHNICAL

Changed the bill number from S 3697 to S 3697-A and updated the committee status to indicate the bill was discharged, amended, and recommitted.

Reorganized the law structure by creating a new Article 77 with renumbered sections (77-0101 and 77-0102) instead of adding a single new section 75-0116.

Updated internal references within the definitions and reporting requirements to match the new article and section numbering scheme.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
6
Key actions
2
Committee
4
Amendments
2
Mar 10, 2026
Committee
REPORTED AND COMMITTED TO FINANCE
upper
Jan 7, 2026
Committee
REFERRED TO ENVIRONMENTAL CONSERVATION
upper
May 13, 2025
Committee
REPORTED AND COMMITTED TO FINANCE
upper
May 6, 2025
Upper · Passed
PRINT NUMBER 3697A
upper
May 6, 2025
Upper · Passed
AMEND (T) AND RECOMMIT TO ENVIRONMENTAL CONSERVATION
upper
Jan 29, 2025
Committee
REFERRED TO ENVIRONMENTAL CONSERVATION
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of James Sanders
James Sanders
DDemocratic
NY
10