SEC sets up Climate and ESG Task Force

The US Securities and Exchange Commission has set up the Climate and ESG Task Force.

The task force will be led by Kelly Gibson, the SEC’s acting deputy director of enforcement, and will work to identify ESG investing related misconduct. It will also focus on identifying misstatements in companies’ disclosure of climate risks under existing SEC rules. They also plan to analyse disclosure and compliance issues regarding ESG funds.

The SEC director Allison Herren Lee says, “Climate risks and sustainability are critical issues for the investing public and our capital markets. The task force announced today will play an important role in enhancing and coordinating the efforts of the Division of Enforcement, the Office of the Whistleblower and other parts of the agency to bolster the efforts of the Commission as a whole on these vital matters.”