Organizations Involved: Environmental Defense Fund, Institute for Policy Integrity
Source: Federal Reserve
Abstract
These comments support the Draft Principles as an important step in the Board’s efforts to guide banks to update their risk management practices as needed in light of climate-related financial risks, thereby promoting safety and soundness. We recommend that the Board continue building upon these Draft Principles with final guidance, as it has indicated it plans to do, moving expeditiously and in coordination with other regulators working to address climaterelated financial risk, including the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”).
