On Thursday, October 21, 2021, the Financial Stability Oversight Council released a Report on Climate-Related Financial Risk (the “Report”). The Report represents the culmination of a deliberative process that began on May 20, 2021, when President Biden signed an Executive Order on Climate-Related Financial Risk. The Report is a milestone for the Biden Administration, and it confirms a clear new consensus among regulatory leadership that climate risk mitigation is a core priority for federal financial agencies.
Click here to read our Seven Things to Know about the Report.