February 2, 2021 | less than a minute read

SEC Creates New Position Focused on Climate

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Jacob H. Hupart

Member

Get in touch

Jacob H. Hupart

Member

The SEC announced the appointment of Satyam Khanna as "Senior Policy Advisor for Climate and ESG." This is a new position at the SEC, and one focused--as the title indicates--on issues of climate change and financial regulation.

This appointment clearly signals the intent of the SEC to embark on regulations of the financial sector that incorporate aspects of climate change risks. It seems probable that the SEC will pursue policies to incorporate climate risk as part of corporate disclosures, and may also address climate change as a systemic financial risk, as Commissioner Lee indicated in a speech last November (https://www.sec.gov/news/speech/lee-playing-long-game-110520).

There will likely be additional developments in this area as the Biden Administration continues to take shape.

The Securities and Exchange Commission announced today that Satyam Khanna will serve as Senior Policy Advisor for Climate and ESG in the office of Acting Chair Allison Herren Lee. In this new role, Mr. Khanna will advise the agency on environmental, social, and governance matters and advance related new initiatives across its offices and divisions.