<p><span>I want to thank all of you for joining our research conference and the organizing committee for inviting me to share some thoughts on climate scenario analysis.</span></p>
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.