(i) assessing, in a detailed and comprehensive manner, the climate-related financial risk, including both physical and transition risks, to the financial stability of the Federal Government and the stability of the U.S. (a) The Secretary of the Treasury, as the Chair of the Financial Stability Oversight Council (FSOC), shall engage with FSOC members to consider the following actions by the FSOC: In furtherance of the policy set forth in section 1 of this order and consistent with applicable law and subject to the availability of appropriations: Assessment of Climate-Related Financial Risk by Financial Regulators. (c) areas in which private and public investments can play complementary roles in meeting these financing needs - while advancing economic opportunity, worker empowerment, and environmental mitigation, especially in disadvantaged communities and communities of color. economy by no later than 2050, limiting global average temperature rise to 1.5 degrees Celsius, and adapting to the acute and chronic impacts of climate change and (b) financing needs associated with achieving net-zero greenhouse gas emissions for the U.S. (a) the measurement, assessment, mitigation, and disclosure of climate-related financial risk to Federal Government programs, assets, and liabilities in order to increase the long-term stability of Federal operations The Assistant to the President for Economic Policy and Director of the National Economic Council (Director of the National Economic Council) and the Assistant to the President and National Climate Advisor (National Climate Advisor), in coordination with the Secretary of the Treasury and the Director of the Office of Management and Budget (OMB), shall develop, within 120 days of the date of this order, a comprehensive, Government-wide strategy regarding: This policy will marshal the creativity, courage, and capital of the United States necessary to bolster the resilience of our rural and urban communities, States, Tribes, territories, and financial institutions in the face of the climate crisis, rather than exacerbate its causes, and position the United States to lead the global economy to a more prosperous and sustainable future. It is therefore the policy of my Administration to advance consistent, clear, intelligible, comparable, and accurate disclosure of climate-related financial risk (consistent with Executive Order 13707 of Septem(Using Behavioral Science Insights to Better Serve the American People)), including both physical and transition risks act to mitigate that risk and its drivers, while accounting for and addressing disparate impacts on disadvantaged communities and communities of color (consistent with Executive Order 13985 of Janu(Advancing Racial Equity and Support for Underserved Communities Through the Federal Government)) and spurring the creation of well-paying jobs and achieve our target of a net-zero emissions economy by no later than 2050. In this effort, the Federal Government should lead by example by appropriately prioritizing Federal investments and conducting prudent fiscal management. financial institutions to serve communities. workers and families, and the ability of U.S. companies and markets, the life savings and pensions of U.S. The failure of financial institutions to appropriately and adequately account for and measure these physical and transition risks threatens the competitiveness of U.S. competitiveness and economic growth, while also creating well-paying job opportunities for workers. At the same time, this global shift presents generational opportunities to enhance U.S. In addition, the global shift away from carbon-intensive energy sources and industrial processes presents transition risk to many companies, communities, and workers. The intensifying impacts of climate change present physical risk to assets, publicly traded securities, private investments, and companies - such as increased extreme weather risk leading to supply chain disruptions. Get Involved Show submenu for “Get Involved””īy the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |