Tag Archives: Climate Change

News Release: EPA’s Initial Guidance on $27 Billion Greenhouse Gas Reduction Fund will Provide Health, Economic, and Wealth-Building Benefits to Communities

WASHINGTON, D.C. — The Environmental Protection Agency (EPA) released its initial program design guidance for the Greenhouse Gas Reduction Fund (GHGRF or “fund”). This key environmental justice and climate provision of President Biden’s Inflation Reduction Act will help provide direct investment toward climate mitigation and resilience projects in communities across the country.

News Release: Fed Releases Inadequate Inaugural Climate Test for Big Banks

The Federal Reserve pilot climate scenario analysis to spur six major U.S. banks to evaluate their climate risks represents a necessary step towards getting these financial institutions to understand their transition risks and the severe physical threats on their residential and commercial real estate portfolios. But there needs to be a more assertive approach to how megabanks manage their climate risks.

Factsheets: Climate Vulnerability and Banking

Climate change is a risk multiplier that exacerbates racial and economic inequality, and it is progressing at an alarming rate. Acute and increasingly frequent climate-related disasters, such as wildfires and hurricanes, as well as chronic issues such as heat stress, sea level rise, and drought,

a green forest with a tornado looming

Letters to Regulators: Letter in Support of FIO’s Proposed Climate-Related Financial Risk Data Collection

AFREF led comments to the Federal Insurance Office in support of their proposed “Climate-Related Financial Risk Data Collection” from insurers. AFREF supports this data collection because the increasingly prevalent and severe weather hazards caused by climate change pose a massive threat to the housing stability, affordability, and safety of Americans nationwide. Purchasing insurance policies is one of the few actions individuals can take to protect their property from the effects of climate-driven natural disasters. Therefore, the cost and availability of insurance is deeply related to a household’s monthly housing costs and their ability to recover from damages following severe weather.