CFTC Extends Comment Deadline for RFI on Climate-related Risk
The CFTC extended the period to submit comments on a Request for Information ("RFI") on risks to the derivatives and commodities markets presented by climate change. The comment period deadline was extended from August 8, 2022 to October 7, 2022.
As previously covered, the CFTC's RFI seeks information on both physical risks to the underlying commodities markets caused by climate-related events and "transition risks" related to evolving policy. The RFI came in response to President Joseph R. Biden's EO 14030 ("Climate-Related Financial Risk"). The Financial Stability Oversight Council recommended that its member agencies, including the CFTC, take steps to mitigate the financial risk presented by climate change.
The CFTC originally provided for a 60-day comment period, but determined that the wide range of information being sought warranted a 120-day comment period.
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