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Climate Risk

Agency FilingEnvironmental JusticeRisk Management

Comments on the National Flood Insurance Program’s Community Rating System Redesign Effort

The Federal Emergency Management Agency (FEMA) issued a Request for Information regarding potential future changes to the Community Rating System (CRS) under the National Flood Insurance Program (NFIP). CRS is a voluntary incentive program offering NFIP premium discounts to eligible communities that exceed minimum NFIP floodplain management requirements. The program…
Talley Burley, Jesse Gourevitch and Carolyn Kousky
September 6, 2024
Agency FilingEnergy RegulationRisk ManagementState Energy Regulation

Comments to the New York Public Service Commission on the Electric Utilities Climate Change Resilience Plans

Organizations Involved: Sabin Center Abstract These comments were submitted to the New York State Public Service Commission in response to the request for comments concerning climate vulnerability and resiliency plans submitted by six New York State electric utilities on November 21, 2023 in compliance with New York Public Service Law §66(29).
Romany Webb and Chloe Field
August 30, 2024
Blog/News ArticleFinancial DisclosureFinancial RegulationRisk Management

Investors, bipartisan former officials, others defend SEC climate risk disclosure rule

Abstract Extreme weather caused by climate change is a threat to human health and safety, but it is also increasingly the cause of serious economic disruptions. And in the transition to a lower carbon economy, companies are navigating both opportunities and challenges. The Securities and Exchange Commission (SEC) recently adopted…
Marie Li
August 22, 2024
Financial DisclosureFinancial RegulationJournal ArticleRegulatory Activities

The Boundaries of Corporate Physical Climate Risk: Definitions and Frameworks

This white paper examines the concept of corporate physical climate risk and how it is reported in company disclosures. First, the paper presents the emerging market of climate analytics and how various firms in this market purport to measure physical climate risk. Next, the paper examines the current state of…
Caroline Cox and Chick Hallinan
August 2, 2024
Event/ConferenceFinancial DisclosureFinancial Regulation

Webinar: What’s Next for Corporate Climate Disclosure?

Organizations Involved: Sabin Center Abstract Climate disclosure rules have recently been finalized by the SEC, California, the European Union, and the International Sustainability Standards Board (ISSB). Please watch to hear our distinguished panelists discuss the implications of these regimes. How will the relatively weaker SEC requirements shape the market alongside…
Chloe Field and Cynthia Hanawalt
June 17, 2024
Adaptation as Risk ManagementAgency FilingEnvironmental JusticeRisk Management

Comments on the National Flood Insurance Program: Standard Flood Insurance Policy, Homeowner Flood Form

The Federal Emergency Management Program (FEMA) proposed a rule to revise the Standard Flood Insurance Policy (SFIP) under the National Flood Insurance Program. The proposed reforms take important steps to: 1) increase transparency and clarity for policyholders; 2) build resilience through investment in flood mitigation; 3) expand coverage options; and…
Carolyn Kousky, Karina French and Talley Burley
May 31, 2024
Agency FilingRisk Management

Comments to FEMA on Proposed Rule to Modify the Standard Flood Insurance Policy Under the National Flood Insurance Program

Organizations Involved: Policy Integrity Abstract The Federal Emergency Management Agency (FEMA) proposed a rule to modify the standard flood insurance policy under the National Flood Insurance Program by creating a new “Homeowner Flood Form,” which applies specifically to homeowners of single-family homes and owners of buildings with one-to-four units. The…
Dena Adler, Bridget Pals and Jason Schwartz
May 31, 2024
Blog/News ArticleFinancial DisclosureRegulatory Activities

The SEC’s Final Climate Disclosure Rule: Interrogating Preemption and Coherence with Other Domestic Regimes

Organizations Involved: Sabin Center Source: Climate Law Abstract This blog explores preemption questions in the context of the SEC's new climate rule and other domestic disclosure frameworks: California’s climate-disclosure laws and the Environmental Protection Agency (EPA)’s GHG emissions reporting regime. It is the third in a series of three blogs that address specific…
Chloe Field and Cynthia Hanawalt
March 29, 2024
Blog/News ArticleFinancial DisclosureRegulatory Activities

The SEC’s Final Climate Disclosure Rule: Pathways for Improving the Floor

Organizations Involved: Sabin Center Source: Climate Law Abstract This post addresses two aspects of SEC’s climate rulemaking process: should the rule have been re-proposed, and, more importantly, how might the SEC update and strengthen the rule going forward. It is the second in a series of three blogs that address…
Chloe Field and Cynthia Hanawalt
March 20, 2024
Adaptation as Risk ManagementFinancial DisclosureFinancial RegulationRegulatory ActivitiesReportRisk Management

An Investor Guide to the SEC Rule on Climate-Related Disclosures

On March 6, 2024, the Securities and Exchange Commission (SEC) issued a final rule for “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” The rule requires covered companies to disclose certain types of climate-related information, bringing climate risk disclosure on par with other financial reporting requirements for publicly traded…
Stephanie Jones, Andrew Howell, Guillaume Morauw, Marie Li, Maximilian Schreck and Gabrielle Stephens
March 18, 2024