SEC’s Climate Plan Poses Compliance Hurdles for Mid-Tier Banks

Large regional banks with oil and gas industry clients are the financial firms that would face the biggest compliance challenges if the SEC’s climate disclosure proposals take effect.

The eight largest U.S. banks have experience with reporting on the impact that their own operations, as well as loans, securities offerings and investments, have on climate change and emissions. Europe and other countries where they operate already require climate change risk disclosures to investors.

But large regional banks, like Zions Bancorporation NA and Comerica Inc., lack global exposure and so have the steepest climb once the Securities and Exchange Commission’s rules ...