Insights

The SEC has changed the climate risk disclosure landscape for U.S.-traded companies. Read how Jupiter can help those companies comply, along with Jupiter CEO Rich Sorkin’s public comments vigorously supporting the draft regulations—and how they can be improved.

Jupiter commends the inclusion of “advanced modeling technologies” and has consistently recommended that the Federal government consider current and future-looking, rather than solely historic, data to enhance the resilience of any financial or physical assets.

Drawing on its recently launched global initiative aimed at improving underserved communities’ resilience to severe impacts from climate change, Jupiter CEO Rich Sorkin responds to the U.S. Council on Environmental Quality (CEQ) Beta version of its Environmental Justice Screening Tool.

Jupiter is prepared now to work with companies that demand integrating superior physical climate risk analysis into their reporting and operational processes. Discover concisely how and why Jupiter is best positioned to help your company prepare for this new regulatory environment.

Responding to the OCC’s Request for Feedback to its draft principles, CEO Rich Sorkin urges the U.S. banking system regulator to formulate climate-related risk management guidance based on best-available climate and data science, harmonized domestic and international standards, integrated assessment of transition and physical climate risk, and other key criteria.

Jupiter submitted comments to the Federal Energy Regulatory Commission (FERC) following a Technical Conference the Commission held on “Climate Change, Extreme Weather, and Electric System Reliability” encouraging the Commission to ensure that climate risk assessments be informed by “the current and expected state of data availability and by actual best practices by leading utilities. This includes using current and future-looking weather and extreme event forecasts and scenarios to the greatest extent practicable, rather than relying solely on historic or current forecasts.”

This edition of Jupiter’s continuing coverage of evolving worldwide regulatory policies includes the IPCC’s AR6 and SEC chairman Gary Gensler’s climate comments.

“We are now right on the edge of fully mainstreaming climate-related assessments and disclosure in everything from operations to fiduciary governance to capital and systemic financial stability regulation.” We asked Dr. Jesse M. Keenan to be the initial guest for our series on the potential impacts of physical and transition climate risk.

Noting “climate change is already threatening the stability of the U.S. financial system, and nearly every critical infrastructure sector,” Jupiter CEO Rich Sorkin has strongly urged the Securities and Exchange Commission to mandate the disclosure of material climate-related risks in financial filings.

Read the letter that has been submitted by Rich Sorkin, Jupiter CEO and Co-founder, for the Hearing Record of Working Towards Climate Equity: The Case for a Federal Climate Service, a hearing of the US House of Representatives Committee on Science, Space, & Technology, Subcommittee on the Environment.

This updated Jupiter Intelligence™ special report covers best practices and breaks down the evolving regulatory environment for the monitoring, measurement, and disclosure of physical climate risks. The Biden Administration is strengthening climate risk initiatives throughout departments and agencies. With support growing for global standardization and mandatory disclosures on climate change, companies can expect more government action than ever: it is critical that they prepare.

Read the letter that has been submitted by Rich Sorkin, Jupiter CEO and Co-founder, for the Hearing Record of the US House of Representatives Committee on Financial Services, Subcommittee on Investor Protection, Entrepreneurship and Capital Markets. Jupiter supports the Subcommittee’s consideration of climate risk disclosure and Environmental, Social and Governance (ESG) requirements.

Today the U.S. Commodity Futures Trading Commission released its first major report on managing climate change risk. The publication will be presented to Congress and features Jupiter’s analysis of flooding risks from its 2020 special report, “Uncovering New Risks from Extreme Floods to Electric Substations in Harris County, TX.” Jupiter advisor Dr. Jesse M. Keenan co-edited the report which addresses the shared role of financial regulators and private enterprises in managing climate risk.

View Rich Sorkin, CEO of Jupiter, testifying at a hearing entitled: “The Future of Forecasting: Building a Stronger U.S. Weather Enterprise.” Mr. Sorkin discusses the use of new technologies like cloud computing and artificial intelligence to address weather and climate risks and the growing need among all sectors of American society for these services as severe weather events cause ever increasing death and destruction due to climate change.