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Financial Regulation

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
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
Financial RegulationRisk ManagementSummary Document

Summary Report: Workshop on Physical Climate Risk and the United States Financial System

In May 2022, CarbonPlan, the Environmental Defense Fund (EDF), and the Initiative on Climate Risk and Resilience Law (ICRRL) co-convened a Chatham House Rule workshop to better understand how climate science is used in risk assessment and decision-making across the financial sector. Pursuant to the rule, the meeting organizers and…
Jeffrey Fralick and Sadie Frank
August 19, 2022
Agency FilingFinancial DisclosureFinancial Regulation

Comments to the SEC on Fund ESG Disclosures (Policy Integrity)

The SEC has proposed a series of new disclosures for investment companies regarding their Environmental, Social, and Governance (ESG) activities. These disclosures would reduce "greenwashing" - a practice where companies misrepresent the sustainability of their investments in order to advertise to investors looking to invest in green funds - by…
Jack Lienke and Bridget Pals
August 16, 2022