ABSTRACT

Addressing Climate as a Systemic Risk: The Need to Build Resilience Within Our Banking and Financial System, Hybrid Hearing Before the Subcommittee on Consumer Protection and Financial Institutions of the Committee on Financial Services, U.S. House of Representatives, One Hundred Seventeenth Congress, First Session, June 30, 2021   [open pdf - 13MB]

This is the June 30, 2021 hearing on "Addressing Climate as a Systemic Risk: The Need to Build Resilience Within Our Banking and Financial System," held before the U.S. House Subcommittee on Consumer Protection and Financial Institutions of the Committee on Financial Services. From the opening statement of Ed Perlmutter: "Whether it is rising sea levels threatening coastal communities, more severe hurricanes on the East and Gulf Coasts, wildfires in the West, or regional climate changes affecting crop yields on the plains, climate change is affecting every State and community in our nation. These risks are intertwined with the financial system. Insurers can expect more claims related to extreme weather events, lenders will see more risks in underwriting carbon-dependent industries, and economic changes will affect asset values across many sectors. Climate change is creating significant and complex risks in our financial system that we cannot ignore." Statements, letters, and materials submitted for the record include those of the following: Allen Hilary J., Rachel Cleetus, Mayra Rodriguez Valladares, Clifford V. Rossi, and Steven Rothstein.

Report Number:
Serial No. 117-36
Publisher:
Date:
2021
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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