One of the world’s most powerful regulators, the US Securities and Exchange Commission (SEC), has announced the formation of a Climate and ESG Task Force to identify what it calls “ESG-related misconduct”.
The task force will sit within the SEC’s Division of Enforcement and will be led by its Acting Deputy Director of Enforcement, Kelly Gibson, as well as drawing on staff from across the Commission.
It will identify potential ESG violations through data mining, with an initial focus on finding “material gaps or misstatements in issuers’ disclosure of climate risks under existing rules”. In addition to companies, the task force will investigate investment advisers’ and funds’ ESG strategies.
The new body will work closely with the newly-appointed Senior Policy Advisor for Climate and ESG, Satyam Khanna, and with other SEC divisions and office…