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Illustration: Annelise Capossela/Axios

The Securities and Exchange Commission held meetings this month with powerful K Street and Wall Street players as regulators mull new rules on corporate disclosure of climate-related risks.

Why it matters: Disclosure could soon move beyond voluntary and private-sector-led efforts to become more deeply embedded in federal regulation.

Driving the news: Recently posted SEC records show a suite of meetings in response to the commission's March request for input.

  • The records show discussions with entities including the U.S. Chamber of Commerce, State Street Global Advisors, the Business Roundtable, the Edison Electric Institute, Walmart and others.

The big picture: Recent years have brought a growing push to provide investors and regulators more information about the ways climate change creates risks for many kinds of companies.

  • Think everything from how emissions policy and energy transition could affect fossil fuel producers, users and lenders to ways that climate change can affect physical assets and supply chains.

Catch up fast: The SEC initiative is part of a wider push among financial regulators and overseers.

Federal Reserve board member Lael Brainard recently made comments supportive of compulsory disclosure of financial institutions' risks.

What we're watching: Where various companies and lobbying groups come out on the topic as the SEC considers going beyond its 2010 "guidance" on the topic.

  • The SEC asked for input on a detailed set of questions, but written submissions are not due until mid-June (though some have arrived already).
  • In some, look for less of a yay-or-nay and instead input on how standards should be crafted.
  • "There is a broader base of support for mandatory disclosure than there has ever been before," Steven Rothstein of the sustainable investment advocacy group Ceres tells Axios.

Go deeper

Ben Geman, author of Generate
Aug 5, 2021 - Energy & Environment

Democrats seek $500 billion in damages from fossil fuel companies

Sen. Chris Van Hollen. Photo: Evelyn Hockstein-Pool/Getty Images

High-profile progressive Senate Democrats have expanded their climate wish list for the multitrillion-dollar package the White House and Democratic leaders hope to move via budget reconciliation.

Driving the news: Sen. Chris Van Hollen (D-Md.) is leading a push for $500 billion in fees over 10 years from large fossil fuel companies — with a big chunk hitting Big Oil — to help finance climate initiatives.

Updated 1 hour ago - World

State Department orders evacuation of U.S. diplomats' families from Ukraine

From left, Under Secretary for Political Affairs Victoria Nuland, Secretary of State Antony Blinken and U.S. Chargés d'Affaires in Ukraine Kristina Kvien during a meeting with Prime Minister of Ukraine Denys Shmyhal in Kyiv. Photo: Yevhen Liubimov/ Ukrinform/Barcroft Media via Getty Images

The State Department will begin evacuating families and non-essential staff from the U.S. Embassy in Kyiv this week, according to a travel advisory published Sunday evening.

Why it matters: The move underscores U.S. fears that a Russian invasion could destabilize Ukraine and threaten embassy's ability to assist Americans.

Perfect storm brewing for extreme politicians

Data: Axios research; Table: Jacque Schrag/Axios

Redistricting and a flood of departing incumbents are paving the way for more extreme candidates in this year's midterm elections.

Driving the news: At least 19 House districts in 12 states are primed to attract such candidates — hard partisans running in strongly partisan districts — according to an Axios analysis of districts as measured by the Cook Political Report's Partisan Voter Index (PVI).