Show Us Your Climate Risks, Investors Tell Companies

Companies are under more pressure than ever to disclose their exposure to climate-change risks. In the coming annual-meeting season, companies are projected to face a record of 75 or more climate-related shareholder proposals, up from 17 in 2013, according to ISS Analytics, the data-intelligence arm of Institutional Shareholder Services.

Investing powerhouses such as BlackRock Inc. and Vanguard Group are separately backing voluntary climate-change reporting standards for public companies and hope to prompt an uptick in disclosures this spring.

Annual meetings, which typically take place in the spring, are an opportunity for activist shareholders to put pressure on companies because of a process that allows them to submit proposals for a shareholder vote.