Finance Agencies’ Climate Risk Rules May Shift Capital From Fossil Fuels

January 5, 2022
Key financial regulators in the coming months are poised to require banks and publicly traded companies to detail the risks they face from climate change, a move environmentalists say is a first step to shifting funds away from high-carbon assets and activities most threatened by climate damages. The Office of the Comptroller of the Currency (OCC) has already issued draft supervisory guidance to large banks – urging them to incorporate “physical” and “transition” climate risks into existing considerations while also...

Not a subscriber? Sign up for 30 days free access to exclusive environmental policy reporting.