Yes, disclosure of climate-related economic risks is important, but on its own will accomplish very little (“Enlist the Market in the Climate-Change Fight,” op-ed, Aug. 19). I had hoped that Brian Deese and Jeff Zients would then move to the essential second step: creating incentives for the market to deliver solutions to climate change.

Even before the devastating flooding began in Louisiana last week, and we learned thatJuly 2016 shattered all global temperature records, mounting data had demonstrated the growing risks climate change poses to the global economy. Whether you are an investor assessing the $2 trillion in bonds that Moody’s found carry elevated near-term climate risk, one of the nearly two million U.S. homeowners facing significant risk from climate-related flooding, or a U.S. taxpayer staring at $360 billion in direct government costs from extreme weather over the past decade—these threats are looming, large and increasing.

California’s cap-and-trade program to restrict greenhouse gas emissions has hit a major political roadblock. Extending the current program beyond its 2020 expiration most likely requires new action on the part of the Legislature, and majority support looks dubious. And even a majority might not be enough. Many legal and policy analysts believe the state's cap-and-trade regime is functionally a tax, and that reauthorizing and extending it requires a two-thirds majority vote of legislators or voters.

One important thing has been lost in all of the obituaries of Roger Ailes’s career at Fox News. The Roger Ailes we know, the one who built a conservative-leaning network from scratch and enforced its philosophy without compromise, would not exist if not for his corporate patron, Rupert Murdoch.

Conservative and free-market groups have staged a rearguard effort to get the Republican party to accept the dangers of climate change, criticizing climate denialism within the GOP and Rupert Murdoch’s media empire.

Facing the increasing likelihood of a Hillary Clinton presidency, growing attacks from liberals and its own divides over a potential carbon tax, the oil industry is rethinking its political strategy on climate change.