Digital hub to help financial regulators assess climate change risks

The Treasury Department today launched the Climate Data and Analytics Hub pilot, a digital tool that will allow financial regulators assess risks to financial stability stemming from climate change.

The hub allows participants to integrate data from across the federal government—including wildfire, crop condition, precipitation and other climate-related data—with their public supervisory data for a more precise view of the relationship between climate change and financial stability risk. It is also equipped with statistical and visualization applications to allow deeper insight into climate-related financial risks and vulnerabilities.

Access to the pilot is initially limited to the Federal Reserve Board of Governors and the Federal Reserve Bank of New York, with the goal of expanding access to all of the Financial Stability Oversight Council member agencies, although no timeline was given for the rollout.