SEC Unveils ESG Task Force

Commodity Futures Trading Commission, Federal Agency/Executive Branch, Funding/Financing/Investing, Securities and Exchange Commission, Treasury, White House

March 5, 2021

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by Matthew Choi and Kelsey Tamborrino (Politico’s Morning Energy) The commission is setting up a climate and ESG task force in its enforcement division as the financial industry faces growing pressure to be more proactive on ESG disclosures, particularly regarding climate risk. Goldman Sachs announced Thursday it would offer more thorough disclosures on its environmental impact. READ MORE

Goldman Sachs Update on Our 2030 Sustainable Finance Commitment (Goldman Sachs)

Biden administration wants the financial sector to face up to climate risk: The Commodity Futures Trading Commission aims to create a new Climate Risk Unit, joining initiatives at Treasury, the Securities and Exchange Commission, and the Federal Reserve (Washington Post)

TAKING A LOOK AT ESG STANDARDS: (Politico’s Morning Energy)

Excerpt from Politico’s Morning Energy: TAKING A LOOK AT ESG STANDARDS: Following its endorsement of carbon costs that sent shockwaves around the industry and Washington, the American Petroleum Institute is meeting with investors, banks and credit rating agencies in April to set ESG reporting standards, POLITICO’s Lorraine Woellert reports.

That follows in the footsteps of the Edison Electric Institute, which implemented its own standards in 2017 following pressure from greens. Lorraine chatted with Richard McMahon, EEI’s senior vice president of energy supply and finance, about the standards, which you can read here. READ MORE

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