Kerry says Biden poised to issue executive order to force banks and investors to reveal climate expo…

President Joe Biden is set to issue an executive order on climate disclosure within capital markets, a move that could shift investments overall with implications for the fossil-fuel and renewables sectors, according to U.S. climate envoy John Kerry.

“President Biden is poised to issue an executive order that will require disclosure,” Kerry said at an International Monetary Fund event Wednesday. “It’s going to change allocation of capital. Suddenly people are going to be making evaluations considering long-term risk to the investment based on the climate crisis.”

Kerry made the comments after IMF Managing Director Kristalina Georgieva said private capital is already shifting in favor of less…

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