WASHINGTON, D.C. — The Securities and Exchange Commission (SEC) has issued an important and thoughtful proposal to require mandatory climate financial risk disclosure from public companies. We look forward to commenting on ways that the proposal must be strengthened, in particular with respect to greenhouse gas emissions reporting and corporate climate-related impacts on communities.
AFR and Public Citizen led a letter to Congress in strong support of the nominations of Lisa Cook, Sarah
Bloom Raskin, and Philip Jefferson to the Federal Reserve Board of Governors.
The nomination of the highly qualified Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson to the Fed is a very welcome step forward towards a better-regulated Wall Street. The Fed needs to steer a new course that begins with a reversal of the deregulation of the Trump era. This work must continue with pro-active regulation and supervision of Wall Street.
AFR sent a letter urging the Biden Administration to take a faster pace in filling key regulatory and financial policy positions. The letter calls out how the Administration’s slow pace in these appointments has undermined its racial justice and climate change agendas.
“Investors know that climate change is a threat that some companies aren’t taking seriously enough. They need information that lets them better understand climate risks and opportunities to see who they can trust to thrive in a low-carbon future economy.”
–Alex Martin, Senior Policy Analyst, Americans for Financial Reform Education Fund
AFREF and 17 organizations sent a letter in response to FHFA’s RFI on climate and natural risk management detailing our concerns about the disproportionate impact of climate change and natural disasters on borrowers and communities of color and low and moderate income neighborhoods. We provided recommendations for next steps on FHFA’s work on mitigating climate risk and urged FHFA to make sure climate risk mitigation efforts do not cause inadvertent harm to the communities who are already most vulnerable to the adverse effects of climate change and who face the most challenges in accessing and sustaining homeownership.
Americans for Financial Reform Education Fund signed onto several letters opposing the OCC’s Notice of Proposed Rulemaking “Fair Access to Financial Services.”