FSB Takes on High-Priority Climate Disclosure, Risk-Reduction Agenda
FSB Chairman Quarles today sent the global standard setter’s latest letter to the G20, now emphasizing not only unfinished regulatory business, but also climate risk. Despite Mr. Quarles’ qualms about regulatory interventions in this complex arena when it comes to the U.S., the letter lays out a comprehensive work plan including the FSB’s latest report on disclosure initiatives and a “comprehensive” roadmap on broader markets and climate-related vulnerabilities.
Gensler Announces New ESG Fund, Diversity Initiatives
SEC Chairman Gensler today announced a new initiative on ESG funds and, more broadly, the fund industry. This is apart from work on MMF reform, which he reiterated is well under way, focusing instead in part on transparency and truthfulness in the fast-growing ESG-fund sector.