This study examines in depth the current climate orientation of the boards of the 25 largest U.S. investor owned utilities by revenue. It aims to help investors and others evaluate these boards. It also compares and contrasts the utilities and their boards using a variety of metrics designed by the Sustainable Investments Institute (Si2) with input from investors, governance experts and utility economists. The resulting body of data can be used by investors who want to assess how the sector is responding to the challenges posed by climate change and a changing regulatory landscape, with an eye to how these changes will affect portfolio companies. It also allows companies to compare their board members’ orientation to peers. The project consolidates and integrates data derived from studies of company sustainability reporting, corporate political activity and lobbying expenditures and the extent of climate risk disclosure and performance.