Climate‑Related Financial Risk: Bank Regulatory and Supervisory Developments

On December 21, 2022, Cravath updated for its clients a resource entitled “Climate‑Related Financial Risk: Bank Regulatory and Supervisory Developments,” which summarized developments in those areas and will continue to be periodically updated as warranted. The resource, originally published on May 21, 2021, examines the U.S. Securities and Exchange Commission’s proposed rules, released on March 21, 2022, requiring domestic and foreign private issuers to include substantial climate‑related disclosures in registration statements and periodic reports. The rules are expected to become effective in 2023. The resource also reviewed the Federal Reserve Board’s proposed principles for the safe and sound management of exposures to climate‑related financial risks for large banks, and proposed guidance issued by the New York Department of Financial Services.

Please click here to read the resource.