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On October 21, the Financial Stability Oversight Council (FSOC), in response to President Biden’s May 20 Climate Executive Order, released its highly anticipated report on climate-related financial risk. “For the first time, FSOC is recognizing that climate change is an emerging and increasing threat to US financial stability,” Treasury Secretary Janet Yellen stated. “This report puts climate change squarely at the forefront of the agenda of its member agencies.”

Tags: regulators  ·   financial stability  ·   climate  ·  

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