The Sierra Club, Americans for Financial Reform Education Fund, and Public Citizen released an analysis of the Financial Stability Oversight Council (FSOC) report on climate-related financial risk. The analysis outlines the report’s disappointing lack of urgency and details the missed opportunities to chart a comprehensive course to mitigate climate risk in the financial sector.
The analysis includes a scorecard for how the FSOC’s report fell short of expectations from civil society groups, and lays out seven immediate steps the Biden Administration can take to pivot financial regulators toward action on climate change.