SEC Appoints Climate and ESG Advisor

The SEC has announced the Feb 1 appointment of Satyam Khanna, its first dedicated climate and environmental, social and governance (ESG) policy advisor. Khanna was a resident fellow at NYU School of Law’s Institute for Corporate Governance and Finance and also served as a senior advisor to the UN’s Principles for Responsible Investment. Along with several other appointments and nominations, the creation of the SEC post signals an emphasis on climate and environment in the Biden administration. A broad range of ESG-related regulatory and policy initiatives are likely to follow. On January 20, President Biden directed the Department of Labor to review a rule finalized late last year that prevents private pension plan fiduciaries from considering ESG factors in investment decisions.