Regulators boost Biden agenda with recommendation for climate disclosures

A panel of top U.S. regulators is declaring climate change a threat to financial stability and recommending federal agencies require companies to disclose the risks they face from global warming, as well as their emissions.

The Financial Stability Oversight Council — which comprises top officials at agencies, such as the Federal Reserve and Securities and Exchange Commission, and is chaired by Treasury Secretary Janet Yellen — issued a report concluding climate change poses an “emerging and increasing” risk to financial stability.