What Biden's Climate Finance Order Means For Energy Cos.

By Michael Phillis (May 26, 2021, 8:25 PM EDT) -- As the energy industry faces mounting pressure to become greener, President Joe Biden last week upped the stakes with an executive order directing the government to evaluate the economic risks posed by climate change.

Biden on May 20 directed federal agencies to evaluate and mitigate risks to the financial system and other sectors from climate change as part of a comprehensive, government-wide strategy that he gave the National Economic Council four months to develop. The order is intended to identify and disclose climate-related financial risks to government programs, but the White House also encouraged regulators, including officials at the U.S. Department of the Treasury,...

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