The New Biden 'Climate Friendly' Policy That Is Not So Economy Friendly | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

The New Biden 'Climate Friendly' Policy That Is Not So Economy Friendly

President Joe Biden is preparing an executive order that would compel companies to reveal the risks they face from climate change, special climate envoy John Kerry said this week.

Kerry didn’t embellish on the features of the order or the timing, but the step would meet a promise Biden made on the campaign path to require all public corporations to report their effusions and climate-related dangers.

Now, the Biden administration has taken several steps to sustain capacity at agencies such as the Treasury Department, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Federal Reserve to discuss the dangers climate change poses to the financial system. Last month, the SEC asked for input on installing a regime for climate exposures.

The early moves from Biden's team on climate finance have already brought harsh denunciation from Republican lawmakers, who say the administration's attempts are a politically motivated attempt to choke off capital to fossil fuels.