Undisclosed corporate financial risk is a big deal these days for battered stock investors. A new movement is afoot to pressure companies to disclose the economic risks they face from climate change.

"On Oct. 22, the Investor Network on Climate Risk (INCR) sent a letter to the Securities and Exchange Commission (SEC) requesting the agency require greater disclosure of the climate change risks that businesses face," reports the watchdog group OMB Watch.

INCR is no rag-tag band of tree-hugging granola crunchers. Instead, it is a sober and intimidating collection of investment fund managers and state comptrollers who oversee more than $7 trillion in assets.

• "Climate Change Disclosure Becomes an Investor Thing," [2] OMB Watcher, OMB Watch, November 4, 2008.