U.S. Treasury Official Sees New Climate-Related Rules in 2022

The U.S. Treasury’s top climate adviser said he expects the country’s financial regulators to take “very strong and systemic” action next year to begin bolstering the resilience of financial institutions to the risks posed by climate change.

A recent report from a panel of top U.S. financial regulators “is likely to culminate in a series of independent steps taken by those regulators over the coming months,” John Morton, the Treasury’s first climate counselor, said via video-conference at a climate and capital markets forum in Australia Friday.

“I think you will see very, very strong and systemic moves across our ...