White House Issues Executive Order On Climate

The White House has issued an Executive Order expressing its policy "to advance consistent, clear, intelligible, comparable, and accurate disclosure of climate-related financial risk. including both physical and transition risks." The EO states that the "intensifying impacts of climate change present physical risk to assets, publicly traded securities, private investments, and companies-such as increased extreme weather risk leading to supply chain disruptions. In addition, the global shift away from carbon-intensive energy sources and industrial processes presents transition risk to many companies, communities, and workers. At the same time, this global shift presents generational opportunities to enhance U.S. competitiveness and economic growth, while also creating well-paying job opportunities for workers."