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Executive Order On Climate-Related Financial Risk: One Small Step For Climate, One Giant Leap For Federal Climate Policy | Vinson & Elkins LLP

Executive Order On Climate-Related Financial Risk: One Small Step For Climate, One Giant Leap For Federal Climate Policy | Vinson & Elkins LLP
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Regulators want to stress-test banks for climate risks Can it work?

Regulators want to stress-test banks for climate risks Can it work?
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Addressing Climate-Related Financial Risk Through Bank Capital Requirements

Addressing Climate-Related Financial Risk Through Bank Capital Requirements Getty/Drew Angerer People walk past the New York Stock Exchange on a rainy day in the Financial District, October 2018, in New York City. Julia Cusick Introduction and summary The climate crisis has profound implications for every sector of the economy, every corner of society, and every aspect of public policy. Several years ago, it may have been acceptable for U.S. financial regulators to brush climate change aside as an issue left to other government departments and agencies. Today, improved data and climate-risk economic analysis, coupled with strong international consensus, make it untenable for financial regulators to ignore the critical nexus of climate change and the financial system. Even some of the conservative regulators appointed by President Donald Trump now view climate change as an important priority that falls within their remit.

New yorkUnited statesFrance generalGeorgetown universityDistrict of columbiaLael brainardJanet yellenHilary allenDonald trumpGregg gelzinisJoe bidenMark carneyCommunity reinvestmentUs congressEuropean central bankSupervisory capital assessment program

Climate Change Focus Of Tomorrow s FSOC Meeting; Top Biden Administration Policy - Finance and Banking

To print this article, all you need is to be registered or login on Mondaq.com. Tomorrow, Treasury Secretary Janet Yellen will lead a meeting of the Financial Stability Oversight Council (FSOC). The preliminary agenda for the open session includes climate change and its potential impacts on financial stability. Appearing before Congress last week, Secretary Yellen stressed the importance of FSOC and its unique role in coordinating responses to issues like climate change. She specifically noted that climate change is a top priority of the Biden [a]dministration and FSOC can play a role in arranging discussions among financial regulators all of whom have

United statesRostin behnamJerome powellJanet yellenGary genslerJelena mcwilliamsAllison herren leeRandal quarlesDivision of examinationsFutures trading commissionDivision of enforcementOffice of investor educationFinancial services committee onCommodity futures trading commissionFinancial stability climate committeeFederal reserve

US Financial Regulators Moving Very Fast to Take on Climate Change

US Financial Regulators Moving ‘Very Fast’ to Take on Climate Change WASHINGTON Financial regulators around the world are rushing to implement models to measure the financial risk arising from climate change. Central banks including the Federal Reserve may soon begin to implement climate stress tests of banks, which may limit financing for industries such as mining, oil, and gas. The world’s largest central banks are pondering how to promote green financing, as they seek to introduce regulatory frameworks to “mobilize” more money for green and low-carbon investments. Critics, however, argue that the proposals to introduce climate stress tests aim to “defund the fossil fuel industry” and steer funds to “fashionable but unprofitable investments.”

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