Regulatory Outlook | 01.20.21
Wall Street, Get Ready...for ESG
President-elect Joe Biden made a public splash with his top climate nominees, notably John Kerry and Gina McCarthy. Less showy but equally influential are the dozens of accounting and economic wonks who will be installed throughout Washington’s financial services ecosystem. The top general in this ESG army is Janet Yellen, who if confirmed to run Treasury also will lead the Financial Stability Oversight Council. Yellen, who testifies today before the Senate Finance Committee, rarely misses a chance to talk about the financial and economic risks of climate change. MarketWatch reports that Gary Gensler, tapped to head the SEC, and Rohit Chopra, picked to direct the CFPB, are expected to also lead the push to leverage financial regulation to fight climate change.
Read the full article on Politico.