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Regulator & Court Approaches to Managing Uncertainty in the Climate Risk Context

Blog/News ArticleEnvironmental JusticeFinancial DisclosureFinancial RegulationRegulatory ActivitiesRisk Management

What Climate-related Financial Risk Means for Communities: Part 2 – Housing & Mortgage Markets

Climate change-driven events—like heat waves, droughts, floods, and fires—cause damage to communities’ and individuals’ health and safety. But these events also threaten the financial well-being of communities across the U.S. through their impact on markets and local economies. These risks are increasingly visible in the housing and mortgage markets. In…
Jesse Gourevitch
February 7, 2024
Blog/News ArticleEnvironmental JusticeFinancial DisclosureFinancial RegulationRegulatory ActivitiesRisk Management

What Climate-related Financial Risk Means for Communities: Part 1 – Insurance

Climate change-driven events—like heat waves, droughts, floods, and fires—cause damage to communities’ and individuals’ health and safety. But these events also threaten the financial well-being of communities across the U.S. through their impact on markets and local economies. Nowhere is this more visible recently than in the property insurance market.…
Karina French
February 1, 2024
Blog/News ArticleFinancial Regulation

Banking Regulators Act in the Face of Headwinds to Address Climate Risk

This blog discusses new regulations released by a group of independent federal agencies that demonstrate a partisan divide on the subject of climate-related financial risk. However, these regulations are a positive step towards recognizing and addressing climate-related financial risk alongside other risks that the financial sector has been considering for…
Chloe Field
November 10, 2023
Agency FilingFinancial RegulationRisk Management

Comments to the CFTC on Potential Regulatory Amendments Governing Risk Management Programs

These comments support the CFTC’s intention to update its risk management program regulations, and in particular urge the CFTC to ensure that such programs adequately account for climate-related financial risks. The ANPRM asks whether the CFTC should consider enumerating climate-related financial risk in the risk management program regulations. Whether through…
Jeffrey Fralick, Gabrielle Stephens, Stephanie Jones and Cynthia Hanawalt
September 18, 2023
Financial RegulationRegulatory ActivitiesSummary Document

A Summary Report on Climate-Related Financial Risk Assessment

This report summarizes outcomes from a series of workshops hosted Fall and, in particular, highlights the discussions centered around how climate-related financial risk assessments are currently conducted. This report also collates community concerns and identifies opportunities for improvement in the process of conducting and using climate-related financial risk assessments.
Jeffrey Fralick, Sadie Frank and Oriana Chegwidden
July 18, 2023
Agency FilingFinancial RegulationRisk Management

Comments on the NCUA’s Request for Information on Climate-Related Financial Risk

These comments were submitted to the NCUA in response to its request for information on current and future climate and natural disaster risks to federally insured credit unions, related entities, their members, and the National Credit Union Share Insurance Fund. EDF and IPI support the NCUA's intention to promote safety…
Michael Panfil, Stephanie Jones, Gabrielle Stephens and Jack Lienke
June 26, 2023