U.S. Treasury Council Backs SEC's Climate Disclosure Plans
By Al Barbarino (October 22, 2021, 7:32 PM EDT) -- The Financial Stability Oversight Council has put its weight behind the U.S. Securities and Exchange Commission's efforts to bolster the climate risk-related disclosures required of public companies and investment fund managers.
In its Thursday report assessing the risks that climate change poses to the U.S. financial system, the U.S. Treasury Department's FSOC said it supports the SEC's efforts to enhance the climate risk-related disclosure requirements of public companies, and to step up oversight of investment managers marketing so-called sustainable, green or "ESG" funds.
"The council is encouraged by the SEC's work on this critical issue and supports its efforts to consider...
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