Insight

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

Banking

Capital Markets

Other

Insurance

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

Industry news headlines

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