May 27, 2021

What Biden's Climate Finance Order Means For Energy Cos.

Nicholas Institute for Environmental Policy Solutions

As the energy industry faces mounting pressure to become greener, President Joe Biden last week upped the stakes with an executive order directing the government to evaluate the economic risks posed by climate change.

Nicholas Institute Director Tim Profeta told Law360 that the executive order will help energy companies properly factor climate change into their business plans, leading to a steady evolution away from risky behaviors.

"The problem on climate change is that markets are not seeing the risks of climate change and not seeing the costs of climate change, and the more we can bring those costs into the marketplace, the more that markets will orient to the solutions," said Profeta.