Fed’s climate risk guidance splits governors
Consultation on climate risk principles criticised by two Fed governors
The US Federal Reserve asked for public comment on a framework for assessing climate change risks in the banking sector on December 2. But the proposals faced resistance from two of the Fed’s top executives.
“I cannot support this issuance of guidance on climate change,” said governor Christopher Waller in a statement published alongside the main report. “Climate change is real, but I disagree with the premise that it poses a serious risk to the safety and soundness of large banks and the
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