This report represents an initial review by the Council of current efforts by its members to incorporate climate-related financial risk into their regulatory and supervisory activities, enhance climate-related disclosures, and assess climate-related risks to the financial stability of the United States.
It includes 35 recommendations that FSOC and its members can adopt to strengthen the financial system and make it more resilient to climate-related shocks and vulnerabilities.
The recommendations cover the following elements:
- Building capacity and expanding efforts to address climate-related financial risks (9 recommendations)
- Filling climate-related data and methodological gaps (6 recommendations)
- Enhancing public climate-related disclosures (11 recommendations)
- Assessing and mitigating climate-related risks that could threaten the stability of the financial system (9 recommendations)
The address for the FSOC report is: https://home.treasury.gov/news/press-releases/jy0426