The California State Insurance Commissioner Ricardo Lara approved a $1 billion bailout of the state’s FAIR (Fair Access to Insurance Requirements) plan to help cover over 3,400 claims it has received due to the devastating Los Angeles fires. The FAIR plan provides insurance to consumers who were dropped by their private insurers.
The Securities and Exchange Commission’s (SEC) Acting Chair Mark Uyeda has requested that the 8th Circuit halt litigation of the agency’s climate transparency rule in light of his and Commissioner Peirce’s opposition to the rule and President Trump’s anti-regulatory order.
Dozens of consumer protection, community development, environmental, climate, and racial justice advocates have joined together to form the Equitable & Just Insurance Initiative, a coalition that aims to develop solutions that can guide community leaders and policy advocates working to address the climate-driven insurance crisis.
The Department of Treasury’s Federal Insurance Office (FIO) released a report revealing how climate change is making homeowners insurance more expensive and harder to obtain across the United States. The report analyzes zip code level data—much of which was also released—obtained from insurers by FIO and the National Association of Insurance Commissioners (NAIC).
Americans for Financial Reform Education Fund led and submitted a letter to the National Credit Union Administration (NCUA) on the agency’s draft 2025-2026 budget. It urges NCUA to appropriately dedicate funding to support credit unions on climate-related financial risk mitigation, climate resilience, and providing safe, equitable
The climate threat is growing. So is the cost of protecting our homes from its damage. Two weeks ago, Hurricane Milton rapidly intensified in Florida, demonstrating the terrifying magnitude that climate change-fueled extreme weather events can reach. Across the country, the growing frequency and intensity of wildfires, hurricanes, and even thunderstorms will require a new approach to insuring homes and communities.
NEW YORK – Today, New York City Comptroller Brad Lander announced a commitment to exclude new pension investments in private equity-backed fossil fuel midstream and downstream companies and projects, addressing a significant loophole in the funds’ Net-Zero Implementation Plan. This makes NYCERS, NYCTRS, and NYCBERS – three of New York City public pensions representing $207 billion in assets – the first-in-the-nation to make such a commitment, setting precedent for funds across the country and around the world to follow suit.
New report recommends financial and trade reforms to improve data and accountability on financial flows and help close the climate finance gaps in Africa, Latin America, and Asia.
Since fall 2023, AFREF and partners have been part of an ongoing Campaign for Lower Home Energy Costs. The goal is for The Federal Housing Finance Agency (FHFA) to require new homes with mortgages backed by Fannie Mae and Freddie Mac to be built to
AFREF authored a memo endorsed by nine partner organizations, which highlights opportunities for financial institutions to mitigate climate-related financial risk in a way that doesn’t violate fair lending and supports communities while building resilience through Community Reinvestment Act (CRA) and Inflation Reduction Act (IRA) opportunities.