• US climate finance principles published by regulators - but two Fed governors refuse to sign

    25 October 2023

    The main banking and financial services regulators in the US have agreed principles on how to manage climate risk - but they resisted calls to promote the transition to a lower carbon economy, as the controversial document caused a rift within the Federal Reserve.

  • Climate change does not pose serious risk to financial stability, says Fed governor

    12 May 2023

    Climate change does not pose a serious risk to large banks or the financial stability of the US, a governor at the US Federal Reserve has said.

  • NY Fed: US bank transition risk exposure 'meaningful, but manageable'

    11 April 2023

    Research by the New York Federal Reserve said that US banks have a "meaningful" but "not very large" exposure to climate transition risk in their loan portfolios, with even the most severe scenarios impacting no more than 16% of their loan books.

  • First US central bank-led climate analysis to assess risks to real estate

    18 January 2023

    The six largest US banks are to study the exposure of their real estate portfolios to physical risks posed by climate change, in the country's first climate scenario analysis exercise led by the Federal Reserve Board.

  • US central bank will not be a 'climate policymaker', chair says

    12 January 2023

    The US central bank should not address climate change unless it is given a specific mandate to do so, US Federal Reserve chair Jerome Powell has said.

  • Underestimating climate risks could threaten banking system, says Federal Reserve

    06 January 2023

    "Much work lies ahead" for large banks on measuring climate risk and Scope 3 emissions, with inadequate assessment of climate risks posing a potential threat to the banking system,...

  • Sustainable finance: key themes for regulation and policy in 2023

    06 January 2023

    The year ahead could be dominated by ESG-related regulation and progress on sustainability data initiatives, Michael Hurley writes

  • Federal Reserve preparing climate risk framework

    06 December 2022

    The US Federal Reserve Board has called for feedback on a framework to help large banks manage physical and transition climate-related risks.

  • Look past ESG scores to hedge climate risks, Fed study says

    07 November 2022

    A sample investment portfolio of stocks with low carbon intensity proved a better hedge against an unexpected climate shock than one constituted of firms with a relatively good environmental score, according to a study by the US Federal Reserve.

  • Six US banks to pilot Fed-led climate scenario analysis

    30 September 2022

    The US Federal Reserve has revealed that six of the largest US banks are to participate in a pilot exercise to study their ability to manage climate-related financial risks, in a significant development for the financial stability supervision framework in the world's largest economy.