CFTC seeking public comment on climate-related financial risk

The Commodity Futures Trading Commission said Thursday it has unanimously voted to seek public comment on climate-related financial risk. 

The commission said its Request for Information’s intent is to “better inform its understanding and oversight of climate-related financial risk as pertinent to the derivatives markets and underlying commodities markets.” 

The CFTC said public responses “will help to inform the Commission’s next steps” with regard to promoting responsible innovation, ensuring the financial integrity of transactions subject to the Commodity Exchange Act and avoiding systemic risk. 

The Commission filed a federal lawsuit in New York on Tuesday accusing Gemini Trust Co. of making false and misleading statements concerning a bitcoin futures contract the firm was pursuing in 2017.