Are US FS regulators finally taking action on addressing climate change?

In June 2019, Rostin Behnam – Commissioner at the U.S. Commodity Futures Trading Commission (CFTC) – announced a Subcommittee of industry executives, academics, and sustainability experts. The Climate-Related Market Risk Subcommittee (the Subcommittee) is tasked with creating a report by the middle of this year to address various topics related to managing climate change risk. In an interview with S&P Global Market Intelligence, Behnam said that he created the group to “gather ideas on how the CFTC and other regulators can work alongside the private sector to address the mounting risks that climate change poses to U.S. and global markets”. Although the CFTC is not the first US financial services regulator to share concerns about climate change, it is the first to take critical first steps in providing practical guidance. 

Sophia Chowdhury - 29 May - 5 min read