This technical brief raises awareness about the need for meaningful corporate climate risk metrics and the misleading use of non-risk metrics as proxies, such as greenhouse gas (GHG) emissions, GHG targets, weather events, and asset locations. Currently, there is an absence of agreed-upon climate risk and risk management metrics. This brief facilitates and advances the metric development process by outlining a conceptual framework for climate transition risk and non-risk metrics. It also offers a proposal for developing categories of climate risk metrics designed to inform different utility priorities. The brief focuses on utilities, but the conceptual proposal can be applied to other sectors. This topic is relevant to corporate climate risk disclosure rule development and compliance, climate reporting, and stakeholder engagement.