Tag: Financial stability oversight council
Financial Stability Oversight Council reports on climate-related financial risk
Recently, when asked about how all of the U.S. agencies coordinate on climate issues, SEC Commissioner Allison Herren Lee observed that one way agencies coordinate is through the Financial Stability Oversight Council. The FSOC, which is chaired by U.S. Treasury Secretary Janet Yellen and includes SEC Chair Gary Gensler as a member, has just issued a new report on climate-related financial risk. The report concludes that climate-related financial risk is “an emerging threat to the financial stability of the United States.” Some of the discussions and recommendations in the report are remarkably congruent with recent comments from Gensler about expected SEC climate disclosure regulation. Are we starting to get an idea of what to expect?
You must be logged in to post a comment.