At the moment, Nationwide Financial Council (NEC) Director Brian Deese, Nationwide Local weather Advisor Gina McCarthy, and senior Administration officers held a digital assembly with leaders and advocates targeted on climate-related monetary dangers. The Administration officers and group mentioned the dangers that local weather change poses to our monetary system – each when it comes to the bodily dangers posed by of local weather impacts like more and more frequent and extreme storms, droughts, and wildfires, in addition to transition dangers associated to the worldwide shift to a net-zero financial system.
NEC Director Deese and Nationwide Local weather Advisor McCarthy emphasised that President Biden and Secretary Yellen are dedicated to growing transparency round climate-related monetary dangers to our companies and financial system. Additionally they highlighted the Administration’s dedication to finishing up President Biden’s govt order on tackling the local weather disaster, which incorporates creating a local weather finance plan that leverages multilateral and bilateral channels and establishments, aiding creating nations in implementing formidable emissions discount measures, defending vital ecosystems, constructing resilience in opposition to the impacts of local weather change, and selling the movement of capital towards climate-aligned investments and away from high-carbon investments.
The Administration officers have been grateful to take heed to the group and listen to their invaluable insights and views round shared priorities to advance transparency and disclosure round climate-related monetary threat.