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Confronting Climate Change
On May 20, President Joe Biden signed an executive order directing the Financial Stability Oversight Council – under Treasury Secretary Janet Yellen – to coordinate regulatory efforts around climate-related financial risk. “Our pensions, our savings – our future livelihoods – depend on the financial sector to build a more sustainable and resilient economy,” Yellen said in her remarks that day. “We all need to have the best tools and the best data to make well-informed decisions.” The executive order, she added, will set regulators and financial institutions on the right path. Biden’s executive order is just the latest example of…
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