Cybercrime is “an immediate threat before us that must be countered with strong and swift resolve,” said CFTC Commissioner Christy Goldsmith Romero on February 10, 2023, at the asset management derivatives forum presented by the Futures Industry Association and the Securities Industry and Financial Markets Association. Climate risk is also “an area of increasing substantial risk to the economy and a threat to financial stability,” she said, stressing the need for public-private collaboration to mitigate both types of risk. “Strengthening the resilience of our markets to cyber risk and climate risk are two of my highest priorities,” Romero announced in her remarks. This will entail broad engagement and collaboration between the public and private sectors. “Everyone has a responsibility when it comes to strengthening market resilience against cyber risk and climate risk. We know what is coming. We are all on the same boat together. If each of [us] does our part, together we will adapt to become more resilient,” she stressed. This article distills Romero’s observations on climate and cybercrime risk. She gave the standard disclaimer that the views she expressed were her own, not those of the CFTC, its other Commissioners or its staff. See “CFTC Consults on Climate Risk
” (Jul. 7, 2022).