Climate risk disclosures appear to be on the horizon, but full compliance could take time.
Browsing: Climate change
Speaking at an industry event today, Federal Reserve Governor Lael Brainard expressed support for mandatory climate disclosures to help measure and mitigate climate risk.
The American Bankers Association today joined 10 other financial trade associations in releasing a set of principles intended to provide a framework for financing the transition to a low-carbon economy.
In a letter to industry earlier this week, the New York Department of Financial Services confirmed that banks may receive credit under New York’s state-level Community Reinvestment Act for certain activities intended to address and mitigate the effects of climate change.
Financial regulators—including the Federal Reserve—are moving to incorporate climate risk assessments in their supervisory activities, according to a new research letter published today by the Federal Reserve Bank of San Francisco.
The Federal Housing Finance Agency today issued a request for input seeking feedback on how climate change and natural disasters could pose risks to the housing finance system, Fannie Mae and Freddie Mac and the Federal Home Loan Banks.
Speaking at a virtual industry event today, Federal Reserve Board Governor Lael Brainard highlighted the need to understand risks related to climate change, noting that it is “vitally important to strengthen the U.S. financial system” to meet this challenge.
A new report from the Financial Stability Board today highlighted the potential implications of climate change for financial stability.
The Financial Stability Board’s Task Force on Climate-related Disclosure has “seen significant momentum around adoption of and support for its recommendations” for firms to develop more effective climate-related financial disclosures, according to its 2020 status report released today.
The New York Department of Financial Services today issued a letter to state-regulated financial institutions outlining the department’s expectations for managing climate change risk.