Inter-Agency Group Floats Plans To Tackle Major Climate Risk To Finance

October 21, 2021
The federal inter-agency group that oversees the stability of the financial sector is detailing what officials see as major climate change risks to the sector’s stability, and proposing a series of recommendations for policies like scenario tests and stricter climate disclosures they say can help mitigate such risks. The Financial Stability Oversight Council (FSOC) -- which is chaired by Treasury Secretary Janet Yellen and whose members include nearly a dozen finance-related agencies -- offers such proposals in a long-awaited Oct...

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