The climate change landscape for insurers has changed dramatically this past month. There are multiple developments insurers should keep in mind – and not just the US Securities and Exchange Commission’s (SEC) recent adoption...more
3/18/2024
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Insurance Industry ,
NAIC ,
New Rules ,
Popular ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
State Legislatures
SEC CLIMATE FINANCIAL RISK DISCLOSURE: RELEASE OF THE AGENCY’S REVISED REGULATION?
At some point in October 2023, the US Securities and Exchange Commission (SEC) is expected to release the long-awaited final version of its...more
This update highlights some of the most noteworthy climate change-related federal and state regulatory, judicial and other developments of the past few months, and offers insights that may help guide insurers in their...more
12/12/2022
/ Climate Change ,
Department of Defense (DOD) ,
Department of Labor (DOL) ,
Environmental Social & Governance (ESG) ,
FDIC ,
FIO ,
Government Entities ,
Insurance Industry ,
NASA ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
State and Local Government
This year started off with a surge of enthusiasm among US proponents of increased climate-related financial risk disclosure by insurers and others:
- Soon after the late-2021 Conference of the Parties (COP) 26 event in...more
On April 27, members from McDermott’s ESG, Impact & Sustainability Group, including Counsel David Cifrino and Partners Thomas Dawson, Carl Fleming and Jacob Hollinger, hosted a webinar on risks, opportunities and disclosures...more
If anyone believed that the US Securities and Exchange Commission’s (SEC) release of proposed climate change-related disclosure requirements last month might have been an isolated matter, of immediate importance only to the...more
After a variety of promises concerning climate change-related regulatory development activity last year, forward movement has been relatively slow. The leading exception has been the New York Department of Financial Services...more
4/1/2022
/ Attestation Requirements ,
Climate Change ,
Disclosure Requirements ,
Financial Services Industry ,
Greenhouse Gas Emissions ,
Insurance Industry ,
Materiality ,
NAIC ,
NYDFS ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
State Legislatures
The US Securities and Exchange Commission’s (SEC) recently proposed landmark climate-related disclosure rules draw attention to a broad scientific consensus that to avert catastrophic consequences from climate change, the...more
3/29/2022
/ Business Opportunities ,
Carbon Emissions ,
Climate Change ,
Disclosure Requirements ,
Energy Sector ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Insurance Industry ,
Investors ,
Net Zero ,
Publicly-Traded Companies ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Webinars
There are less than two months before world leaders meet in Glasgow for the UN-sponsored Climate Change summit known as the Conference of the Parties (COP 26). This summer, we have been inundated with dire reports about...more
9/14/2021
/ Climate Change ,
Disclosure Requirements ,
Dodd-Frank ,
Environmental Policies ,
Federal Insurance Office ,
Flood Insurance ,
FSOC ,
Joe Biden ,
NAIC ,
New Regulations ,
NYDFS ,
ORSA ,
Risk Assessment ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
United Nations
When we published our last climate change update earlier this month, it was probably a safe bet that the last few weeks of the month would continue to be active. That was an understatement. Before summarizing the New York...more