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From New Yorker

From Vox

The US Federal Reserve has also asked major banks to launch an experiment on how they will cope with climate change-related shocks to the economy, as well as examine what will happen to their portfolios as more businesses switch away from fossil fuels toward cleaner energy.

Meanwhile, the European Union has implemented its own climate reporting rules for big businesses. The EU’s rules go even further, requiring companies to also publish their impacts on communities, biodiversity, and human rights. And it applies to all but the tiniest of companies, so upward of 50,000 businesses could be subject to the EU’s disclosure checklist.

So, even if disclosure regulations in the US get watered down or blocked in the courts, companies that do business in multiple countries will likely face some kind of reporting requirement; it would behoove them to start tallying up their emissions and risks.

And while monitoring and disclosure is an important fist step for addressing climate change, it’s only a step. A paper published in the journal Science in August noted that disclosure rules could help policymakers craft further, more targeted regulations that lead to direct emissions reductions. Exactly how much of an impact this will have on investments and climate pollution is not clear. Environmental activists argue that these measures need further backing with regulations that ratchet down fossil fuel production and consumption overall.

The SEC is expected to publish its climate disclosure rules in the coming months. It’s not certain how strict the final rules will be, but it shows that regulators are paying attention, which in turn could change how everyone does business. And California will be an important laboratory for how these rules play out. According to Newsom, the regulations demonstrate “California’s continued leadership with bold responses to the climate crisis, turning information transparency into climate action.”

From The Hindu: Sports

From The Hindu: National News

From BBC: Europe

From Ars Technica

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