Regulators want firms to own up to climate risks

America’s main financial regulator is taking an interest in climate change—and wants everyone to know. The Securities and Exchange Commission (sec) has created a task-force to examine environmental, social and governance (esg) issues, appointed a climate tsar and said it will “enhance its focus” on climate-related disclosures for listed firms. It looks poised to introduce, among other things, rules forcing firms to reveal how climate change or efforts to fight it may affect their business.