Biden Issues Long-Awaited Executive Order On Climate Finance Risks

President Joe Biden has signed a long-awaited executive order that encourages federal financial regulators to begin to assess and mitigate the financial risks climate change poses to the private sector while taking similar steps to address financial risks faced by the federal government, which is under growing pressure to act. The May 20 executive order generally tracks steps that top finance officials had already announced or begun to implement. For example, it requires Treasury Secretary Janet Yellen, in her role...