The Biden administration is reportedly preparing another executive order aimed at addressing climate change. The order would require public companies to report to the government their carbon emissions and potential risks to the climate caused by their activity.
Special climate envoy John Kerry said on Wednesday that the order will prompt companies to assess the "risks to their investments."
"Suddenly, people are going to be making evaluations considering long-term risks to their investment based on the climate crisis," Kerry said at an event at the International Monetary Fund. "And that will encourage new investment, as well as laws in countries."
🔦 Republicans have criticized the Biden climate initiatives, saying they are designed to economically devastate those companies that require and/or produce fossil fuels.