Skip to main content

Our News

fresh from the press
Agency FilingFinancial DisclosureRegulatory Activities

Comments to the Federal Reserve on Principles for Climate-Related Financial Risk Management for Large Financial Institutions

These comments support the Draft Principles as an important step in the Board’s efforts to guide banks to update their risk management practices as needed in light of climate-related financial risks, thereby promoting safety and soundness. We recommend that the Board continue building upon these Draft Principles with final guidance,…
Jack Lienke, Stephanie Jones, Michael Panfil and Gabrielle Stephens
February 6, 2023
Agency FilingFinancial Regulation

Comments to the FIO on Climate-Related Financial Risk Data Collection

These comments support the Federal Insurance Office's proposal to collect information from property and casualty insurers regarding current and historical underwriting data on homeowners' insurance. This data collection would mark a critical step towards understanding how climate-related disasters may affect the availability and affordability of insurance for U.S. householders. This…
Stephanie Jones, Michael Panfil, Karina French and Jeffrey Fralick
December 20, 2022
Blog/News ArticleFinancial RegulationRegulatory Activities

DOL Rule Clarifies That ESG Analysis Is Consistent With Fiduciary Duty. Will It Preempt State Anti-ESG Laws?

This blog discusses the Department of Labor's final rule that was issued on Tuesday, November 22, that allows for plan fiduciaries to consider climate change and other environmental, social, and governance (ESG) characteristics when they choose investments and exercise shareholder rights, reversing a Trump-era rule that sought to constrain this…
Cynthia Hanawalt and Eleonor Dyan Garcia
November 23, 2022
Agency FilingFinancial DisclosureFinancial Regulation

Comments to the CFTC on Climate-Related Financial Risk (Sabin Center)

These comments strongly support the Commodity Futures Trading Commission's ("Commission") efforts to respond to the financial consequences of climate change and highlight the legal basis for appropriate rule-making to address these risks. Regulations to address climate risk are consistent with the Commission's mandate to ensure the integrity of transactions under…
Eleonor Dyan Garcia, Cynthia Hanawalt and Romany Webb
October 7, 2022
ReportRisk Management

Catastrophe Bonds

Catastrophe bonds are the most well-known type of ILS to transfer catastrophe risk to capital market investors and the second-largest according to volume. The first catastrophe bonds were issued in the mid-1990s and the market has been steadily growing since that time. This primer explains the general mechanics of catastrophe…
Carolyn Kousky
September 20, 2022
ReportRisk Management

Parametric Insurance for Disasters

The concept of parametric insurance, while not new, is getting increased attention as a way to provide faster and more flexible funds to victims of disasters and as a tool to provide post-disaster funds for emerging and otherwise difficult-to-insure risks. There is also hope that parametric policies can broaden disaster…
Carolyn Kousky
September 20, 2022
Blog/News ArticleFinancial DisclosureFinancial Regulation

Widespread Support for the SEC’s Proposed Climate Risk Disclosure Standards

As shown in the quotes collected in this blog, a proposal from the Securities and Exchange Commission (SEC) that would standardize public companies’ disclosures of climate risk information is getting strong support from the general public, investors, companies of various sizes across a wide range of sectors, law and business…
Stephanie Jones and Andrew Howell
September 13, 2022