Biden’s Call For FSOC Advice Seen Driving Strict Climate Finance Rules

President Joe Biden’s call for financial regulators to jointly develop a plan for limiting various fiscal risks from climate change is expected to drive strict new disclosure and other rules from a wide range of agencies and potentially strengthen rules that some agencies develop, private analysts and other says. In some cases, agencies such as the Federal Housing Finance Agency (FHFA), which regulates government-backed mortgage giants Fannie Mae and Freddie Mac, are already taking steps to assess their authorities to...