Today: Businesses voice concerns about the conflict in the Middle East in their reports to shareholders; from four-day weeks to AC bans, the world is scrambling to save energy; the Tesla Semi proves a hit with truck drivers.

Welcome back: Companies from airlines to fast-food restaurants are adding disclosures to their shareholder reports about the Iran war, flagging what they fear may be long-term disruptions.

WSJ Pro Sustainable Business's Clara Hudson reports that with the conflict now in its fourth week, oil volatility is prompting firms to update investors about how the energy chaos could harm bottom lines. Businesses across the globe, most of which still rely on fossil fuels, have to weather increased costs and uncertainty amid the closure of the Strait of Hormuz.

• Spirit Airlines’ parent company said in its annual report that the recent climb in jet fuel prices “presents an immediate and substantial negative impact to our results of operations.”
• “Even if the conflict in Iran and the Middle East subsides or ends, there may be lasting disruptions to fuel production, including related infrastructure and transportation,” the airline company said this week.
• Fast-food chain El Pollo Loco pointed to the Iran war and the costs of transportation and energy in its annual report. Discount store Dollar Tree also flagged in its investor filing that it could face increased costs because of the war’s impact on fuel prices.

The fossil fuel shock has rekindled debate about investment in clean energy, as advocates for renewables say oil and gas alternatives can help damp price jumps—although the situation might be more complicated than that.

• Some companies have flagged how the war and oil price hikes could affect consumers. Secondhand shopping platform ThredUp said the energy price spikes could contribute to inflation and hurt consumer purchasing power.
• Alon Rotem, ThredUp’s chief strategy officer, said in an email that, “as the geopolitical disruptions and rising energy prices put more pressure on the American consumer, our model is built to help people stretch their dollar to shop with value in mind and even turn their closet into a liquid asset.”

About 25% of the world’s oil passes through the now-jeopardized Strait of Hormuz, and 20% of the world’s liquefied natural gas, according to the International Energy Agency. In an effort to calm oil markets, the IEA’s member countries recently released 400 million barrels of oil from its strategic reserves—which is one-third of emergency holdings.

Governments around the world are pressuring consumers to reduce energy use in one of the broadest efforts to alter fuel-consumption habits since the 1970s, as the Iran war drives oil-and-gas prices sharply higher.

The changes are being rolled out as a mix of voluntary acts, soft restrictions and incentives to cut demand. But the policies are multiplying and growing more constraining as the crisis continues.

The war has closed the Strait of Hormuz, which normally caters to about 20% of global oil consumption, causing the biggest supply shock in the history of the oil market, according to the International Energy Agency.

Surges in oil and natural-gas prices have put sharp pressure even on countries that don’t import energy from the Middle East. With prices of derivative products such as jet fuel and liquefied natural gas also affected, the economic fallout is already percolating down—even for energy exporters such as the U.S.

• The International Energy Agency is calling for people to cut oil demand by working from home more, flying less and driving slower. (FT)
• It isn’t just cars and airplanes. Oil is a key ingredient in thousands of common products. (WSJ)

This summer, after years of delays, Tesla plans to begin shipping mass-produced Semi trucks from its Nevada Gigafactory. The company is expected to deliver between 5,000 and 15,000 Semis in 2026 before ramping up to 50,000 trucks a year, according to a recent report by Tigress Financial Partners, the WSJ's Paul Berger reports.

Surprisingly, Tesla is winning over a hard-to-please and influential group—truckers. Truckers who drove it in pilot tests say they loved features including a centered driving position, faster charging and longer range for about $100,000 less than other battery-electric trucks.

Battery-electric trucks have fewer moving parts than diesel engines and don’t need regular servicing. Tesla says the Semi can charge four times faster than other battery-electric trucks, reaching a 60% charge in 30 minutes. That’s still slower than filling up the tank with diesel, but not bad for an EV. It can travel 500 miles on a single charge, according to Tesla. 

• Truck drivers in the U.S. are feeling some of the first economic effects of the rapid surge in the cost of diesel. (WSJ)
• Electric vehicles are available at deep discounts from automakers and dealers, making them as affordable as ever for buyers. (WSJ)

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• Energy storage is surging in the U.S. — and the country has more than enough battery-making factories to meet demand. (Canary Media)
   
• TotalEnergies announced today the launch of France’s first advanced plastics recycling plant. (ESG Today)
   
• Torrential rains caused historic flooding on the northern coast of Hawaii's Oahu, prompting an evacuation order. (WSJ)
   
• New York Governor Kathy Hochul has proposed revising the state's 2019 climate law, citing concerns about affordability. (Bloomberg)
   
• Shares in Chinese battery makers CATL, BYD and Sungrow outperform Chevron, ExxonMobil and BP since the start of the Iran war. (FT)
   
• The move to dilute the EU's Emissions Trading System reflects growing scepticism of its energy transition policies. (Oxford Analytica)

WSJ Pro Sustainable Business gives you an inside look at how companies are tackling sustainability. Send your comments to editor Perry Cleveland-Peck at perry.cleveland-peck@wsj.com and reporters Clara Hudson at clara.hudson@wsj.com and Yusuf Khan at yusuf.khan@wsj.com. Follow us on LinkedIn at perrycp, clara-hudson and yusuf_khan.