(American Banker) - U.S. financial regulators have not yet issued rules on climate-related financial risks, though some agencies have taken more steps in that direction than others, according to an analysis of their activities by the sustainable finance advocate Ceres.
The Treasury Department and the Federal Housing Finance Agency are among the regulators that have taken the most climate-related actions over the last year, Ceres says in a new report issued Tuesday. The Public Company Accounting Oversight Board took the fewest actions to incorporate climate issues into risk assessments, the report states.
Ceres based its report on over 100 climate actions taken by 10 federal agencies including the Treasury, FHFA, PCAOB, Federal Reserve and Securities and Exchange Commission between July 2022 and last month.
By Jordan Stutts
July 12, 2023
