CRS Insight – Climate Change and U.S. Financial Regulators: Overview and Recent Actions, Updated August 26, 2021: “Under the Biden Administration,financial regulators have announced a range of new measures to address financial risks associated with climate change. The Department of the Treasury, the Securities and Exchange Commission (SEC), and the Federal Reserve have each announced new steps:
- The Treasury’s announcement coversa range of issues including public spending, macroeconomic effects, and international cooperation.
- The SEC’s addresses investor disclosure requirements relating to climate risks and the classification of funds marketed to investors as environmentally friendly.
- The Fed’s relates to lending risks for individual financial institutions and to systemic financial risks related to climate change.This Insight provides an overview of these actions and how they interrelate…”