On March 4, the Securities and Exchange Commission announced the creation of its new Climate and ESG Task Force within the Division of Enforcement. Kelly L. Gibson, acting deputy director of Enforcement, will lead the task force focused on environmental, social, and governance (ESG) concerns, overseeing 22 members from the SEC’s headquarters, regional offices, and specialized units.

The Climate and ESG Task Force will focus on developing initiatives to identify ESG-related misconduct, including identifying material gaps or misstatements in issuers’ disclosure of climate risks and disclosure and compliance issues relating to investment advisers’ and funds’ ESG strategies. The task force will also work closely with other SEC Divisions and Offices, including the Divisions of Corporation Finance, Investment Management, and Examinations.

SEC Release No. 2021-42.