To address climate change, the SEC should require corporations to disclose more information about their risks
President Joe Biden has declared addressing climate change as one of his top priorities. Fighting climate change will entail many billions (if not trillions) of dollars in direct government spending and programs. It will also depend on the actions of private-sector companies.
But when it comes to climate risk, companies cannot be expected to regulate themselves. The government must enhance financial regulations to inform and empower market participants to better identify, assess, and address the risk posed by climate change.
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Vice President, Economic Policy
Fellow, Global Financial Markets Center, Duke University School of Law