CFTC extends public comment period for RFI on climate-related financial risk

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The Commodity Futures Trading Commission (CFTC) is extending the public comment period on a recent request for information it issued on climate-related financial risk.

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The deadline to submit public comments is now Oct. 7. It was extended another 60 days due to the broad range of topics addressed in the RFI.

“It’s critical that the commission proactively understand how climate-related financial risk may affect the commodities and derivatives markets as well as our registered entities, registrants, and other market participants as they increasingly rely on the derivatives markets to manage their climate-change induced physical and transition risk,” CFTC Chair Rostin Behnam said. “I look forward to feedback from all corners of the derivatives markets, especially the farmers, ranchers, producers, and other end-users who will be on the front lines of the effects of climate change.”

The CFTC announced on June 2 that it is seeking public feedback on all aspects of climate-related financial risk, including how it pertains to derivatives markets, underlying commodities markets, registered entities, registrants, and other related market participants.

Further, the RFI also seeks responses on questions specific to data, scenario analysis and stress testing, risk management, disclosure, product innovation, voluntary carbon markets, digital assets, greenwashing, financially vulnerable communities, and public-private partnerships and engagement.

The RFI was initially published in the Federal Register on June 8, with a 60-day comment period scheduled to close on Aug. 8. With the extension, they are now due by Oct. 7. Comments may be submitted electronically through the CFTC’s Comments Online process. All comments received will be posted on the CFTC website.

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