Washington Report 360 | October 15, 2021

Multiple releases on climate and ESG; SEC Speaks 2021 featured statements on digital analytics, digital assets, and access to capital

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • Multiple releases about climate-related risks and ESG issues:
  • A new Executive Order outlines a “comprehensive, government-wide strategy” to measure, disclose, manage, and mitigate the systemic risks posed by climate change.
  • FSB published a status report for adoption of TCFD-aligned climate disclosures and two related reports: final guidance on TCFD metrics, targets, and transition plans; and updates to implementation guidance on its recommendations.
  • DOL proposed rule changes that would remove barriers when plan fiduciaries consider climate change and other ESG factors when selecting investments and exercising shareholder rights.
  • FRB actions and a House Committee hearing address financial inclusion, and a Treasury study and new NY DFS continuing education requirement focus on climate change.
  • The SEC hosted “SEC Speaks 2021,” which included statements from commissioners and staff on a wide variety of topics recently highlighted in speeches and testimony, including digital analytics, digital assets, and gamification and Best Interest.

Financial services regulatory and policy news


Capital Markets



  • NY DFS:
  • Announced a continuing education requirement for flood insurance based on flood risk increases due to climate change

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