A groundbreaking policy report spearheaded by a commissioner of the Commodity Futures Trading Commission (CFTC) and published this month lays out the systemic risks climate change poses to the U.S. financial system. It is an acknowledgement that is symbolically important more than anything else, reviving calls for a tax on carbon, enhanced climate-risk disclosure requirements by publicly traded companies, and more.
“With this report in hand, policymakers, regulators, and stakeholders can begin the process of taking thoughtful and intentional steps toward building a climate-resilient financial system that prepares our country for the decades to come,” CFTC Commissioner Rostin Behnam said in announcing the report.
