On Thursday, January 21, President Biden announced that Democratic SEC Commissioner Allison Herren Lee will serve as acting chair of the Securities and Exchange Commission (the “SEC” or the “Commission”).
In her Thursday, November 5 speech before PLI’s 52nd Annual Institute on Securities Regulation, Commissioner Allison Herren Lee built on her prior statements to clearly stress her view that the Securities and Exchange Commission (the “SEC”) needs to address climate change.
The Task Force for Climate-Related Financial Disclosures (“TCFD” or the “Task Force”) was established by the G-20 Financial Stability Board in 2015 to encourage the disclosure of consistent climate-related financial information.
In 2018, the 2° Investing Initiative (“2DII”) — an international, non-profit think tank working to align financial markets and regulations with the Paris Agreement’s goal of keeping global temperature rise this century well below 2 degrees Celsius above pre-industrial levels — launched the Paris Agreement Capital Transition Assessment (“PACTA”) tool.
The European Union Taxonomy Regulation (the “Taxonomy”) entered into force on July 12, 2020, as part of the European Commission’s (the “Commission”) broader action plan on sustainable finance initiated in March 2018.
In June 2018, the International Maritime Organization (“IMO”) announced the adoption of an initial strategy to reduce total greenhouse gas (“GHG”) emissions attributable to the international shipping sector by at least 50% by 2050.1
Methane gas has been the subject of yo-yoing regulation—and regulatory roll-backs—over the past few years.
On February 24, 2020, the Australian Prudential Regulation Authority (“APRA”) published a letter outlining plans to establish clearer guidance on expectations for financial institutions in assessing and managing climate risks…
On February 20, 2020, the Financial Reporting Council (“FRC”) announced a shift in their reviews of company and auditor climate change risk disclosures…
New York recently enacted very ambitious climate change legislation that will affect transportation, real estate and other industries far beyond the energy sector.