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Climate Risk Management: The Latest Information

Recently, federal regulatory agency leaders have taken steps towards understanding the financial risks associated with climate risk.
 
The Federal Reserve Board announced the creation of two committees tasked with identifying the micro and macro prudential risks of climate risk and developing a program to mitigate these risks. Treasury Secretary Janet Yellen stated on multiple occasions that climate risk management will constitute a major area of focus for the Financial Stability Oversight Council. Both the Federal Housing Finance Agency and the Securities and Exchange Commission released requests for input on the climate risks associated with the housing sector and purpose of climate risk disclosures, respectively. While still in the information gathering stage, the federal agencies clearly plan to make climate risk management a top priority for this administration. 

Following the recent actions of federal regulatory agencies and inquiries from various members following the CSBS Legislative Fly-In panel with Sarah Bloom Raskin, CSBS thought it prudent to gather the latest information and data related to climate risk management.

The following reports, guidance, and speeches serve as a primer for understanding actions taken by a wide array of stakeholders in the financial services sector.

If you have any questions about the above material or seek further information on current state and federal actions towards understanding climate risk management, please contact Camille Polson, Senior Analyst of Policy Development at cpolson@csbs.org.

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