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Jerome Powell: Climate Activists Need Him as Fed Chair
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Central Banks Jump Into Climate-Change Policy Fray | Hellenic Shipping News Worldwide
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BusinessWorld
May 14, 2021 | 12:02 am
REUTERS
WASHINGTON The US Federal Reserve has asked lenders to start providing information on the measures they are taking to mitigate climate change-related risks to their balance sheets, according to four people with knowledge of the matter.
The previously unreported supervisory discussions highlight how US watchdogs are moving to execute President Joe Biden’s agenda to incorporate climate risk into the financial regulatory system, with potentially major ramifications for Wall Street.
While European regulators are this year rolling out climate-change “stress tests” for lenders, the Fed lags its peers.
Fed officials have previously said they are considering a new scenario analysis to help them understand how climate change may affect trillions of dollars’ worth of bank assets, but have not said how or when they would start to apply such tests.
Sustainable BusinessEXCLUSIVE Fed privately presses big banks on risks from climate change
Pete Schroeder
6 minute read
Houses sit in floodwater caused by Hurricane Florence, in this aerial picture, on the outskirts of Lumberton, North Carolina, U.S. September 17, 2018. REUTERS/Jason Miczek
The U.S. Federal Reserve has asked lenders to start providing information on the measures they are taking to mitigate climate change-related risks to their balance sheets, according to four people with knowledge of the matter.
The previously unreported supervisory discussions highlight how U.S. watchdogs are moving to execute President Joe Biden s agenda to incorporate climate risk into the financial regulatory system, with potentially major ramifications for Wall Street.
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