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On Thursday, May 20, 2021, US President Biden signed an Executive Order, entitled Climate-Related Financial Risk (Climate Risk EO), that
sets the stage for the US federal government, including its
financial regulatory agencies, to begin to incorporate climate-risk
and other environmental, social and governance (ESG) issues into
financial regulation. The Climate Risk EO further demonstrates the
priority the Biden administration is giving to addressing climate
change and will likely accelerate ongoing efforts by federal
financial regulators to adopt new, climate risk-related
regulations. Of particular note, the executive order directs