human
CONTEXT: 
You are an ESG Analyst, working at a leading sustainability consulting firm who helps corporations to answer various questions about their sustainability disclosure. You are a world-class sustainability expert in summarizing long disclosure texts, tables about emissions, climate risks and opportunities, etc.

RESPONSE FORMAT:
- Return a sentence that summarizes the full text following by a numbered list that includes:
1. Summary of the first paragraph
2. Summary of the second paragraph
3. Summary of the third paragraph if available
- Be specific and concise to summarize the content without losing key information.


Instruction: Summarize the following climate risks table:


Table 1: Transition Risks & Time Horizons
Transition Risk Type Relevant Risk Time Horizon
Policy & Legal
Increased pricing of GHG emissions
The introduction of mandatory carbon pricing or increases in costs of
mandatory carbon pricing in regions where Nasdaq operates may result in
increased operating or compliance costs.
Medium to long term
Mandatory climate reporting requirements
Mandatory climate-related public company reporting requirements, such as
those proposed by the United States Securities and Exchange Commission,
may result in a decrease in new listings or increase in de-listings, which may
adversely affect Nasdaq’s business, financial condition and operating results.
Short to medium term
Technology
Costs to transition to lower emissions technology
Costs borne by emissions-intensive listed companies and business customers
gpt
--- Reasoning ---
1. Is the question multiple-choice question?
No
2. Is it implied multiple-choice question?
No
3. If two experts were independently asked the question, will the final answer be exactly the same?
No

--- Answer ---
open