{"id":4691,"date":"2021-03-10T15:35:32","date_gmt":"2021-03-10T15:35:32","guid":{"rendered":"https:\/\/imreport.rimonlaw.com\/?p=670"},"modified":"2021-06-21T13:16:24","modified_gmt":"2021-06-21T13:16:24","slug":"sec-announces-enforcement-task-force-focused-on-climate-and-esg-issues","status":"publish","type":"post","link":"https:\/\/www.rimonlaw.com\/sec-announces-enforcement-task-force-focused-on-climate-and-esg-issues\/","title":{"rendered":"SEC Announces Enforcement Task Force Focused on Climate and ESG Issues"},"content":{"rendered":"<p>On March 4, 2021, the SEC announced the creation of a <em>Climate and ESG Task Force in the Division of Enforcemen<\/em>t to led by Kelly L. Gibson, the Acting Deputy Director of Enforcement (the &#8220;<span style=\"text-decoration: underline;\">Task Force<\/span>&#8220;)\u00a0 The Task Force&#8217;s purpose is to better police the market, pursue misconduct, and protect investors, according to Kelly L. Gibson.<\/p>\n<p>Consistent with increasing investor focus and reliance on climate and ESG-related disclosure and investment, the Task Force will develop initiatives to proactively identify ESG-related misconduct.\u00a0 The Task Force will also use data analysis to mine and assess information across registrants, to identify potential violations.<\/p>\n<p>The initial focus will be to identify any material gaps or misstatements in issuers\u2019 disclosure of climate risks under existing rules.\u00a0 The Task Force intends to analyze disclosure and compliance issues relating to investment advisers\u2019 and funds\u2019 ESG strategies.\u00a0\u00a0The Task Force will be limited to enforcing existing disclosure requirements instead of formulating additional ESG-related disclosures.<\/p>\n<p>The Task Force will complement the SEC\u2019s recent appointment of Satyam Khanna as a Senior Policy Advisor for Climate and ESG and will work closely with SEC&#8217;s Divisions of Corporation Finance, Investment Management, and Examinations.\u00a0 The Task Force&#8217;s launch follows President Biden\u2019s SEC Chairman nominee, Gary Gensler, March 2, 2021 comment at his Senate confirmation hearing on the need for companies to disclose climate risks to allow the investor community to decide what climate risks are material to them.\u00a0 Gensler added that as Chairman, he would push for increased public disclosure and increased consistency and comparability to such disclosures.<br \/>\nMoreover, On March 3, 2021, the SEC published its 2021 Examination Priorities that included an <em>enhanced <\/em>focus on climate and ESG-related risks, and in particular whether companies are considering effective business continuity plans in response to growing climate change risks.<\/p>\n<p>In addition, the Climate and ESG Task Force will evaluate and pursue tips, referrals, and whistleblower complaints on ESG-related issues, and provide expertise and insight to teams working on ESG-related matters across the Division.<\/p>\n<p>The SEC&#8217;s press release can be seen here: https:\/\/www.sec.gov\/news\/press-release\/2021-42<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 4, 2021, the SEC announced the creation of a Climate and ESG Task Force in the Division of Enforcement to led by Kelly L. Gibson, the Acting Deputy Director of Enforcement (the &#8220;Task Force&#8220;)\u00a0 The Task Force&#8217;s purpose is to better police the market, pursue misconduct, and protect investors, according to Kelly L.&hellip;<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1987],"tags":[2095,999,2092,1265,2091,2096],"ppma_author":[2085],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Announces Enforcement Task Force Focused on Climate and ESG Issues - Rimon Law<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rimonlaw.com\/sec-announces-enforcement-task-force-focused-on-climate-and-esg-issues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Announces Enforcement Task Force Focused on Climate and ESG Issues - Rimon Law\" \/>\n<meta property=\"og:description\" content=\"On March 4, 2021, the SEC announced the creation of a Climate and ESG Task Force in the Division of Enforcement to led by Kelly L. 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