During her confirmation hearing, Janet Yellen--Biden's nominee for Treasury Secretary--promised to employ the authority of the Treasury Department to combat climate change.
This statement reinforces the conclusion that the Biden Administration will seek to make expansive use of its regulatory and administrative authority to pursue climate change policy, which may lead to numerous regulations and enforcement activity beyond the typical environmental context.
Businesses in America should prepare--as many are already doing so--to address and adapt to climate change regulations in the financial sector.