CFTC Climate Change Report Highlights Costs Of Inaction
Law360 (October 9, 2020, 3:24 PM EDT) -- On Sept. 9, the the climate-related market risk subcommittee of the Commodity Futures Trading Commission issued a report intended to shape regulators' general understanding of how climate change could influence financial markets worldwide.
The report was developed by a task force of more than 30 members, including officials from U.S. banks, asset managers, universities and environmental groups. While the findings of the report are ultimately nonbinding recommendations, the report highlights the significant emphasis that must be placed on climate change, as climate-related threats may affect U.S. financial institutions and regulators.
The report is critical, as it analyzes the future needs for...
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