Climate Disclosure Lab

Opinion & Analysis

Addressing climate change has become a top priority for governments, policymakers, regulators, and concerned actors around the world. As a result, policies are changing, practices are evolving, data is being released, and calls for action are being proposed at a dizzying pace. This section highlights key resources for keeping up-to-date with climate-related disclosure practices, changes, and proposals.

Big City Mayors Around the World Call for Green Recovery

In a statement coordinated by the C40 Cities Climate Leadership Group, a network of nearly 100 of the world’s megacities committed to addressing climate change, dozens of mayors from the world’s most powerful cities have warned that the recovery from COVID-19 “should not be a return to ‘business as usual’ – because that is a world Continue Reading »

Trump Bans Oil Drilling Off Florida, Georgia, and South Carolina Coasts

On September 8th, Trump announced that he would sign an order extending the moratorium on offshore drilling on Florida’s Gulf Coast. He also announced that he will expand the moratorium to Florida’s Atlantic Coast, as well as the coasts of Georgia and South Carolina.  According to Politico, the move “is expected to be done by Presidential Continue Reading »

SEC Commissioner Allison Herren Lee Criticizes Regulation S-K Amendment for Failure to Address Climate Change

On Wednesday, August 26th, the U.S. Securities and Exchange Commission approved an amendment to Regulation S-K that gives companies more flexibility in disclosing risk factors and certain legal proceedings in their financial statements by a vote of 3-2. Commissioner Allison Herren Lee, who in a January statement criticized the SEC for “ignoring” climate change, voted against the Continue Reading »

Lee Reiners of the Climate Risk Disclosure Lab Quoted in Climate Wire Article

An article published by Climate Wire on August 24, 2020, highlights corporate watchdog Bharat Ramamurti’s criticism of the Fed’s “Main Street Lending Program.” Ramamurti accuses the central bank of tweaking the program’s parameters and “expanding loan eligibility to accommodate struggling oil and gas companies,” pointing to their decision to increase the maximum loan amount, to Continue Reading »

Mnuchin Called to Address Climate Threats to Financial System

On August 19th, U.S. Representative Mike Levin (D-CA) and Senator Brian Schatz (D-HI) led a bicameral letter with nearly 50 House members and nine Senators calling on Treasury Secretary Steven Mnuchin to respond to the serious threat climate change poses to financial markets. The letter calls on Secretary Mnuchin to use his statutory responsibility as Continue Reading »

Environmental Organizations Press Fed to End Fossil-Fuel Bond Purchases

On July 30, 2020, a group of 69 organizations, including Amazon Watch and GreenPeace USA, expressed concern over the Fed’s failure to “fulfill its responsibility to serve the public interest and promote financial stability due to its investment in the fossil fuel sector.” The letter, addressed to Federal Reserve Chairman Jerome Powell, calls on the Continue Reading »

Rising Seas Threaten Millions Beyond Shorelines

A recent study published in Scientific Reports shows that, for the case of no coastal protection or adaptation and a mean RCP8.5 (business as usual) scenario, there will be an increase of 48% of the world’s land area, 52% of the global population and 46% of global assets at risk of flooding by 2100. Though average sea Continue Reading »

Partnership for Carbon Accounting Financials Seeks Feedback on Carbon Measuring and Disclosure Standards

The industry-led Partnership for Carbon Accounting Financials, a global partnership consisting of 70 banks, asset managers, and insurance companies with nearly $9 trillion in assets, released a consultive draft for a Global Standard to measure and disclose the GHG emissions financed by loans and investments. The “Global Carbon Accounting Standard for the Financial Industry” responds to the Continue Reading »

Former EPA Administrators Call for Agency Reset

Former EPA chiefs, from both Republican and Democratic administrations, call for a “reset” of the agency in light of increasingly threatening environmental challenges. Lee Thomas, William Reilly, Carol Browner, Christine Todd Whitman, Lisa Jackson and Gina McCarthy voiced their concern over the far-reaching impacts of climate change on “air quality, infectious diseases, and water quantity Continue Reading »

National Whistleblowers Center: Exposing a Ticking Time Bomb: How Fossil Fuel Industry Fraud is Setting Us Up for a Financial Implosion – and What Whistleblowers Can Do About It

In July 2020, the National Whistleblower Center (NWC) released a report detailing widespread deception by fossil fuel executives regarding the financial risks of climate change. The report describes why deception about companies’ preparedness for climate change risks represents a ticking time bomb that, if not addressed, could contribute to worldwide economic devastation. The report, written by a Continue Reading »