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One agency that is aboard the Joe Biden climate action plan is the U.S. Securities and Exchange Commission (SEC), which for years either avoided or has not been resourced with the tools it needs to lean on companies to take climate change risks more seriously.
Two weeks in, however, the SEC is poised to change its tone and respond to investors who insist that companies be more forthcoming about their ESG (environmental, social and governance) performance, especially when it comes to their analyses of climate change risks that could affect their financial performance in the long term.
This new direction is evident with the announcement that Satyam Khanna will join the SEC as a senior policy advisor for climate and ESG. For now, he will report to the agency’s acting chair and advise the agency and its various offices and departments on all matters related to ESG.
