[Washington Examiner] The Federal Reserve has created a new climate committee to address the risks climate change poses to financial stability.
The new effort, called the Financial Stability Climate Committee, will draw from expertise across the Federal Reserve system and is intended to tackle risks to the broader financial system, said Lael Brainard, a member of the Federal Reserve's board of governors.
The committee comes in addition to the Fed's creation of a separate climate initiative earlier this year, the Supervision Climate Committee, that is focusing more closely on ensuring individual financial firms that the Fed oversees are prepared for climate-related risks.
Perhaps financed by the COVID-Relief Bill? |