Explore Prime's climate reporting

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Why it exists

California’s Climate‑Related Financial Risk Act (SB 261) requires public disclosure of climate‑related financial risks and related risk-management processes. This law applies to U.S.-based entities that meet a required revenue threshold and do business in California. Prime has prepared this report in alignment with the Task Force on Climate‑related Financial Disclosures (TCFD), working with trusted sustainability consultants.

What it contains

This report evaluates potential physical and transition climate risks across our business and spanning short‑, medium‑and long‑term time horizons. The report also describes how Prime identifies, assesses and manages them through our enterprise risk management framework.

Specifically, content is organized around key disclosure areas, including governance, strategy, risk management, financial impact and metrics and targets.

Governance

Descriptions of the Board of Directors’ oversight and management’s role in assessing climate-related risks and opportunities

Strategy

Actual and potential impacts on businesses, strategy and financial planning, including findings from scenario analyses

Risk management

Processes for identifying, assessing and managing risks, including how these are integrated into overall risk-management systems

Metrics and targets

Descriptions of the metrics and qualitative indicators used to monitor climate-related risks and opportunities (e.g., scenario analysis outputs and physical/transition risk assessments) and any operational or risk-management targets described in the report

Financial impact

Details on how climate issues affect financial statements (e.g., costs, losses or changes to assets/liabilities)

You can find detailed methodologies, assumptions and disclosures within the report.

Read the report

Frequently asked questions

California Senate Bill 261 (SB 261) is known as the Climate-Related Financial Risk Act. It requires U.S.-based entities with more than $500 million in annual revenue that do business in California to publicly disclose climate-related financial risks and related mitigation processes. Signed into law in 2023, SB 261 is intended to increase transparency around how climate-related factors may impact business operations and financial resilience.

Prime’s climate-related risk report evaluates potential physical and transition climate-related risks across short‑, medium‑ and long‑term horizons. These risks are assessed in the context of Prime’s operations, supply chain and broader enterprise risk-management framework.

Physical risks relate to the potential impacts of acute and chronic weather‑related events, like severe storms, flooding, heat or wildfire. Transition risks relate to changes in policy, regulation, market expectations, technology or legal environments associated with the transition to a lower‑carbon economy.

Climate‑related assessments may change over time due to evolving data availability, methodology updates, regulatory guidance, operational changes or external conditions. Updates are reflected in Prime’s published report, as required or appropriate.

Prime’s climate-related risk report is updated in accordance with applicable regulatory requirements and internal review processes. The downloadable report represents the authoritative source for the most current disclosures.

Detailed methodologies, assumptions, calculations and supporting data are available within the report. This document is the authoritative source for Prime’s climate‑related disclosures.

Disclosure notice

This webpage provides a high‑level overview of Prime Therapeutics’ climate‑related disclosures for informational purposes only. Certain statements may be forward‑looking and subject to risks and uncertainties. California Climate‑Related Risk Disclosure is the authoritative source for Prime’s disclosures prepared in alignment with California SB 261 and the Task Force on Climate‑related Financial Disclosures (TCFD). Prime Therapeutics undertakes no obligation to update this information, except as required by law.

The California Climate‑Related Risk Disclosure report was prepared in partnership with Prime Therapeutics’ trusted sustainability consultants.

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