As Regulators Weigh Action, Banks Face Pressure On Climate Risks

The banking industry is facing increased pressure to take voluntary actions to address climate change risks, including conducting stress tests to ensure adequate capital reserves, as federal regulators continue to examine whether mandatory requirements are needed. A new report from the sustainability investment group Ceres says banks should immediately incorporate the physical impacts of climate change into daily decision-making, rather than waiting for government mandates, adding to pressure on the financial industry to take climate actions. The Sept. 8 report...