Environmentalists Praise Bank Agencies’ Climate Risk Guide As ‘Major Step’

October 25, 2023
Environmental groups are applauding just-finalized guidance from three top banking agencies as an important step toward addressing large banks’ exposure to climate-related financial risks, even as the measure does not include several more-prescriptive requirements they had sought. The interagency guidance, released late Oct. 24 , marks “the first major step by U.S. banking regulators toward protecting the banking system and economy from climate-related financial risk,” says David Arkush, director of Public Citizen’s climate program in an Oct. 24 press release...

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