FOR IMMEDIATE RELEASE

Jan. 27, 2021

CONTACT:
Carter Dougherty
carter@ourfinancialsecurity.org
(202) 251-6700

Comment on Biden Administration Executive Order on Tackling the Climate Crisis

The Biden Administration today issued an Executive Order initiating a government-wide effort to tackle the climate crisis. Just one week into his term, President Biden has already re-entered the U.S. into the Paris Agreement and appointed strong climate leaders.

“The Biden Administration is wasting no time setting up an ambitious climate agenda, and this EO enlists a huge range of federal agencies and interagency working groups in the fight. The order properly highlights the need to ensure a fair transition for Black, Latinx and indigenous and low income communities that face the worst environmental and public health dangers from toxic pollution and climate impacts,” said Alex Martin, senior policy analyst at Americans for Financial Reform. “What we need next from the Administration is a more detailed plan for how our federal financial regulators should engage in this effort. Financial regulation and supervision are pivotal tools the Biden Administration can use to help address the climate crisis in an equitable way,” he added.

The Federal Reserve, the Department of Treasury, the SEC, the DOL, and other financial regulators all have a role to play in maintaining a stable financial system that properly allocates capital, protects investors, and is resilient. Americans for Financial Reform is eager to work with the Biden Administration and policymakers to chart a course forward on these matters toward a common goal of climate, environmental, racial, and economic justice.

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