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Perspectives
Creating a climate of change digest
Climate risk regulatory developments in the financial services industry
A closer look at the regulatory trends shaping the management of climate change risks in financial services in the United States, now and in the coming decade.
2023: A regulatory whirlwind for climate and sustainability
2023 was a year marked by shifting expectations, developing uncertainty, and industry-wide changes. Over the last 12 months, the financial services industry has seen a major influx of regulatory updates designed to both incentivize climate-friendly initiatives, as well as offer more concrete methods for measuring challenges, efforts, and successes.
Trends across the industry that remain top-of-mind include evolving roadmaps for climate action, both short-term and long-term scenario-based analyses, financial stability in the face of major climate damage, and the development of external advisory committees. Additionally, while companies in the past have been expected to both talk the talk and walk the walk regarding climate action, there are now a growing number of organizations ready to call for those who are falling short to be held accountable.
To better understand the current landscape before diving into the year ahead, the first edition of the 2024 Climate Digest is looking back at the 15 most noteworthy developments from 2023.
2023: A regulatory whirlwind for climate and sustainability
2021-2022 issues
Review previous years' issues to gain deeper insight into past climate risk regulatory developments and their effects on US financial services.
2021 Reports
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Additional Deloitte perspectives on climate risks
For further insight, please view our related thought leadership on climate risk and the financial services industry.
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Kristen Sullivan
Partner | Audit & Assurance
Deloitte & Touche LLP
Ricardo Martinez
Principal | Deloitte Risk & Financial Advisory
Deloitte & Touche LLP
Michele Crish
Managing director | Deloitte Risk & Financial Advisory
Deloitte & Touche LLP
David Sherwood
Managing director | Deloitte Risk & Financial Advisory
Deloitte & Touche LLP
Austin Tuell
Manager | Deloitte Risk & Financial Advisory
Deloitte & Touche LLP
Deloitte Center for Regulatory Strategy
Irena Gecas-McCarthy
FSI director, Deloitte Center for Regulatory Strategy, Americas
Principal | Deloitte Risk & Financial Advisory
Deloitte & Touche LLP
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