Interagency financial risk group establishes committee on climate

December 17, 2021
The interagency group charged with coordinating action on risks to the U.S. financial sector is creating a new committee exclusively focused on climate change-related financial risk, offering the latest indication of increased government oversight of such risks. During a Dec. 17 meeting, the Financial Stability Oversight Council (FSOC), voted to create the Climate-related Financial Risk Committee (CFRC) to identify key areas of climate-related financial risk and coordinate member agencies’ actions to address them. FSOC in October released a high-profile report...

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