White House Commits to Increased Disclosure of Climate Related Financial Risk
In an Executive Order issued last week, President Biden acknowledges that “the intensifying impacts of climate change present physical risk to assets, publicly traded securities, private investments, and companies” and that “ the global shift away from carbon-intensive energy sources and industrial processes presents transition risk.” In response, the President has made it a “policy” of his Administration “to advance … clear … accurate disclosure of climate-related financial