Climate change is an 'emerging threat to the financial stability of the United States,' Stephen Ledbetter, the executive director and director of policy at the Financial Stability Oversight Council, said during a call with reporters
Climate change is an"emerging threat to the financial stability of the United States," Stephen Ledbetter, the executive director and director of policy at the FSOC, said during a call with reporters Thursday.'No country will be spared' from effects of climate change, Biden administration reports detailThe council's report comes just 10 days before the United Nations Climate Change Conference, or COP26, is set to start. The international talks will take place in Glasgow.
He emphasized that the FSOC board left out"key risk-reduction tools," which makes the report more vague and fails to treat climate change"with the urgency it deserves."Read More"On top of the threats from climate change itself, climate solutions will threaten financial stability if regulators don't steer finance in a more productive direction," David Arkush, the director of Public Citizen's Climate Program, told CNN Business.
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