US Regulators Withdraw Climate-Related Financial Risk Standards

Fed accused of putting 'financial system at risk' with new 'capitulation'

Federal regulators have rescinded a set of guidelines for large banking institutions to consider the financial dangers of the climate crisis when making decisions about business strategy, risk management, and strategic planning.On Thursday, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Federal Reserve Board announced that they would immediately withdraw their interagency Principles for…

US Regulators End Climate Oversight Framework For Big Banks

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US Regulators End Climate Oversight Framework for Big Banks

Federal regulators will no longer require banks to spell out how they manage climate-related financial risk, following objections from officials in the Trump administration and Republican lawmakers, who said that climate policy was distorting financial regulation. In a joint move announced on Oct. 16, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency rescinded a set of rules called …

US Regulators Withdraw Climate-Related Financial Risk Standards

Banks will no longer be expected to detail how they manage climate-related financial risk, following pressure from President Donald Trump and Republican lawmakers who say climate risk has unduly influenced financial regulation.

News Release: Regulators Cave to Banking Industry and Climate Deniers and Rescind Critical Evaluation of Climate Financial Risks

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U.S. Regulators Withdraw Climate Risk Management Principles for Banks

The U.S. banking regulators have made a bold move by withdrawing the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions, a framework established just last year. This decision, driven by the Fed, FDIC, and OCC, signals a significant shift in the regulatory approach to climate-related financial risks. The principles, designed to help large banks… Source