U.S. financial regulators are gearing up to tackle climate change under President-elect Joe Biden. The industry will be ready to make sure any new rules suit them.
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The U.S. wants to tame climate risk. Banks are ready to push back
Whoever ends up in key roles, a big measure of success on climate finance will be the speed with which new practices and rules are introduced. Identifying risks alone does little to protect us; it’s what comes after all the disclosures and stress tests and taxonomies that matters. With a rapidly closing window to avoid the worst effects of climate change, U.S. policy makers will have to get up to speed as soon as they can.
