"Big Business squirms as Biden tightens climate regulations," 8 February 2021

Democrats are vowing to go through the Securities and Exchange Commission to impose sweeping financial disclosure rules on climate risk that would force thousands of businesses including banks, manufacturers and energy producers to divulge information to investors. Lenders are set to get even more scrutiny from their own regulators like the Federal Reserve, including potential stress tests to measure their resiliency to rising sea levels and extreme weather. Companies are pushing back against these initiatives...At the heart of the clash is a broader argument about how much control the government should have over business...BlackRock CEO Larry Fink, who has been hailed by some as a corporate leader in fighting climate change, is putting his weight behind a call for companies to abide by a voluntary global standard instead and is warning against the potential shortfalls of government intervention. And Republican lawmakers are emerging as allies to businesses resistant to the looming transparency rules.