CFTC Acting Chairman Behnam Establishes New Climate Risk Unit

CFTC

Commodity Futures Trading Commission Acting Chairman Rostin Behnam today announced he has established the Climate Risk Unit (CRU) to support the agency’s mission by focusing on the role of derivatives in understanding, pricing, and addressing climate-related risk and transitioning to a low-carbon economy. Comprised of staff from across the CFTC’s operating divisions and offices, the CRU represents the agency’s next step in response to what has become a global call to action on tackling climate change. The CRU is intended to accelerate early CFTC engagement in support of industry-led and market-driven processes in the climate—and the larger ESG—space critical to ensuring that new products and markets fairly facilitate hedging, price discovery, market transparency, and capital allocation. read more »

Oil firms knew decades ago fossil fuels posed grave health risks, files reveal

THE GUARDIAN

The oil industry knew at least 50 years ago that air pollution from burning fossil fuels posed serious risks to human health, only to spend decades aggressively lobbying against clean air regulations, a trove of internal documents seen by the Guardian reveal. read more »

Penny Stocks Are Booming, Which Is Good News for Swindlers

NEW YORK TIMES

Retail investors see the tiny companies as the next big opportunity after meme stocks and cryptocurrency. But shares are an easy target for fraud. read more »