Highlights
The Biden Administration on May 20, 2021, issued its latest and
long-awaited Executive Order (EO) on climate-related financial
risk.
The EO will affect a number of business sectors, including
financial institutions, insurance companies, U.S. Securities and
Exchange Commission (SEC)-regulated entities and government
contractors, and will require a number of studies and reports to be
filed by government agencies within the next 120 to 180 days.
Demonstrating how climate change and environmental justice
issues remain a top priority within the Biden Administration, this
EO is the latest in a series of actions designed to encourage
economy-wide transition by targeting the financial sector and
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Since taking office in January, President Biden has made his
commitment to tackling climate change clear. He has taken important
steps to reestablish the United States as a climate leader, from
hosting the Leaders Summit on Climate, to rejoining the Paris Agreement, to taking steps
to curb fossil fuel production and environmental
degradation.
Executive Order 14030 (the Order ),
issued May 20, 2021, is the most recent of Biden s strategic
climate efforts. It emphasizes the risks climate change poses to
financial markets and stakeholders and calls upon the federal
On May 20, President Biden issued his Executive Order on Climate-Related Financial Risk ("Order") which requires federal agencies to assess the potential impacts of climate change on public.
In Founding Fathers' days, it was the Federalists versus the Anti-Federalists. In Joe Biden's presidential days, it's the radical environmentalists versus the state treasurers. And watch and wait: If states stand strong, they'll get the win on this one.
The Department of Homeland Security was asked to transmit policy recommendations on data retention and event logging to the Office of Management and Budget by May 26 as part of President Joe Biden s cybersecurity executive order.