US businesses face a sea change on climate risk management and disclosure

By Stacy Swann The Biden administration is reportedly preparing an executive order that will require federal agencies to measure, manage, and disclose climate risks — and which, by extension, likely signals new rules for financial institutions and for companies working in sectors from energy to agriculture. Meanwhile, the Federal Reserve is setting up committees to look at climate risks to banks and the broader financial system, and the Securities and Exchange Commission is considering climate disclosure requirements for public companies. At the state level, the New York Department of Financial Services has put the nation’s first-ever regulatory framework for climate [...]