Abstract There has been a proliferation of climate change vulnerability assessments of species, yet possibly due to their limited reproducibility, scalability, and interpretability, their operational use in applied decision-making remains paradoxically low. We use a newly developed Climate Risk Index for Biodiversity to evaluate the climate vulnerability and risk for ∼2,000 species across three ecosystems and 90 fish stocks in the northwest Atlantic Ocean, a documented global warming hotspot. We found that harvested and commercially valuable species were at significantly greater risk of exposure to hazardous climate conditions than non-harvested species, and emissions mitigation disproportionately reduced their projected exposure risk and cumulative climate risk. Of the 90 fish stocks we evaluated, 41% were at high climate risk, but this proportion dropped to 25% under emissions mitigation. Our structured framework demonstrates how climate risk can be operationalized to support short- and long-term fisheries objectives to enhance marine fisheries’ climate readiness and resilience.