This Article examines the intersection of environmental crises and financial disclosure obligations through the lens of Great Salt Lake. As the lake shrinks to unprecedented levels, the resulting dust storms, diminished snowpack, and destabilized ecosystems increasingly threaten both the public health and economic viability of Utah’s most populous region, and economic impacts will extend far beyond industries directly dependent on the lake. These environmental threats can translate into material financial risks for publicly traded companies and municipal bond issuers, potentially necessitating disclosure under existing securities law. While industries directly reliant on the lake’s ecosystem may already face disclosure obligations, these will expand to include more sectors and geographic areas if the lake is allowed to continue to shrink. The Article argues that recognizing these growing securities liabilities presents a powerful additional reason for urgent policy interventions to restore the lake and safeguard the region’s long-term economic viability. This case study shows how localized environmental crises generate systemic vulnerabilities across economic sectors, with implications for similar situations worldwide.