Senators criticize Fed for engaging in ‘climate activism’
Nine Republican senators urged the Federal Reserve to stop engaging in “climate activism,” saying the institution’s “credibility hangs in the balance.”
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USDA’s Climate-Smart program up and running
Approximately $3.1 billion will be spent on 141 pilot projects, providing incentives for producers to adopt climate-sensitive practices on working lands.
Waller: Little role for Fed in addressing climate risks
There is no need for special treatment for climate-related risks in the Federal Reserve’s financial stability monitoring and policies, Fed Governor Christopher Waller said.
Climate financial risk advisory group holds first meeting
Taking climate change into account is prudent risk management, Treasury Secretary Janet Yellen said this week during the inaugural meeting of the Climate-related Financial Risk Advisory Committee
GOP lawmakers reintroduce plan to exempt farmers from greenhouse gas reporting rule
The SEC’s climate disclosure proposal would require all public companies to disclose GHG emissions from operations a company owns or controls.
ABA urges agencies to rethink proposed climate disclosure rule
A proposed rule to require certain federal contractors to disclose and reduce their greenhouse gas emissions could place impractical requirements on banks and other businesses, ABA said this week.
ABA urges flexible approach to climate risk guidelines
The Federal Reserve’s proposed guidelines to help large banks mitigate climate change risks need to be flexible to implement, and they should not be applied to community banks, the American Bankers Association said this week in a letter to the agency.
Corporate climate disclosure bill reintroduced in California Legislature
Legislation that would require corporations to report their greenhouse gas emissions has been reintroduced in the California State Senate, with the proposed law modeled after an ABA-opposed bill that was narrowly defeated by state lawmakers last year.
ALEC board rejects model anti-ESG bill
The American Legislative Exchange Council’s board last week rejected a proposed model bill that would have required states to stop doing business with companies considered to be boycotting fossil fuels and other related industries.
Fed provides additional details on climate scenario exercises
The Federal Reserve this week provided additional details on how its upcoming pilot climate scenario analysis exercise will be conducted and the information on risk management practices that will be gathered from the program.