The Most Important Climate Legislation Has Already Passed

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https://www.greentechmedia.com/articles/read/the-most-important-climate-legislation-has-already-passed

Source: By Justin Guay, Greentech Media. 

Excerpt: one of the most powerful pieces of climate change legislation the Biden administration will need has already been passed: the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. This legislation, known for creating the Consumer Financial Protection Bureau and other public safeguards against financial wrongdoing, also empowers key agencies including the Treasury Department, the Federal Reserve and the Securities and Exchange Commission to limit systemic risks to financial stability. The largest systemic risk of them all, climate change, is driven by reckless investments in fossil fuels, exactly the kind of speculative activities Dodd-Frank was designed to bring to a halt ...For investors, one of the greatest risks is losing money on coal, oil and gas infrastructure that is forced into early retirement due to the inevitable policy response to climate change and a resulting clean energy transition (referred to as "transition risk"). However, even absent a concerted climate policy, the U.S. has seen a wave of bankruptcies across the oil and gas industry, and the continued secular decline of the coal industry despite desperate attempts to reverse its fortunes.... 

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