We’re saved! ‘Large U.S. banks would have to integrate climate financial risk assessments into every aspect of their work’
U.S. News & World Report: “Large U.S. banks would have to integrate climate financial risk assessments into every aspect of their work under sweeping new draft supervisory guidance proposed by a top U.S. banking regulator on Thursday.” The magazine elaborated, “The principles touch on everything from how climate change affects board room governance, liquidity, credit and operational risk, to the way banks project hypothetical future losses on their books and their ability to service poorer communities.”
WASHINGTON (Reuters) – Large U.S. banks would have to integrate climate financial risk assessments into every aspect of their work under sweeping new draft supervisory guidance proposed by a top U.S. banking regulator on Thursday.
The Office of the Comptroller of the Currency (OCC) said it was soliciting feedback on draft principles for bank supervisors assessing that risk at lenders with over $100 billion in assets with a view to developing formal guidance.
The principles touch on everything from how climate change affects board room governance, liquidity, credit and operational risk, to the way banks project hypothetical future losses on their books and their ability to service poorer communities.