In September, the Market Risk Advisory Committee of the U.S. Commodity Futures Trading Commission (CFTC) issued a significant, yet perhaps under-publicized, report titled “Managing Climate Risk in the U.S. Financial System.” The report identified several key findings, including that: climate change “poses a major risk to the stability of the U.S. financial system and to its ability to sustain the American economy;” “financial markets will only be able to channel resources efficiently to activities that reduce greenhouse gas emissions if an economywide price on carbon is in place at a level that reflects the true social cost of those emissions; and “disclosure of information on material, climate-relevant financial risks … has not resulted in disclosures of a scope, breadth, and quality to be sufficiently useful to market participants and regulators.” CFTC, Managing Climate Risk in the U.S. Financial System at i-iv (Sept. 2020). The report recommends that the U.S. establish a price on carbon that is consistent with the Paris Agreement’s goal of limiting global temperature rise this century to less than two degrees Celsius above pre-industrial levels.
"gather" - Google News
October 29, 2020 at 11:08PM
https://ift.tt/3oCqmsv
Financial Sector Initiatives to Combat Climate Change Gather Momentum | The Legal Intelligencer - Law.com
"gather" - Google News
https://ift.tt/2Sqdbwp
https://ift.tt/2Yjhqxs
Bagikan Berita Ini
0 Response to "Financial Sector Initiatives to Combat Climate Change Gather Momentum | The Legal Intelligencer - Law.com"
Post a Comment