Democrats Step Up Efforts To Scrutinize Financial Sector’s Climate Risks

Top Biden administration officials and Democratic lawmakers are stepping up efforts to assess financial services firms’ potential climate-related risks, launching new efforts to require companies to disclose potential risks while opening the door to subjecting some firms to “stress tests” to determine possible management steps. While President Joe Biden and other officials have long telegraphed such efforts as part of their whole-of-government approach to climate change, the latest actions -- in Congress and in regulatory agencies such as the Securities...