This story was originally published by HuffPost and is reproduced here as part of the Climate Desk collaboration. Climate change could bombard the US financial system on many fronts, and the nation’s growing dependence on natural gas for heating and electricity requires particular scrutiny as regulators scramble to catch up on the threat. That’s the conclusion of a landmark report from the Financial Stability Oversight Council, the federal entity established after the Great Recession to guard against future economic disasters.
Climate Change Is A Serious Threat To America’s Financial System
Alexander C. Kaufman, Mother Jones
Sun, 10/24/2021 - 3:00am
Topics: huffpost desk collaboration climate that s financial stability oversight council great recession dodd-frank british european union congress financial coal co2 reaching president joe biden wall street david arkush citizen federal reserve ben cushing sierra club s simon johnson massachusetts institute technology asked united nations the are a biden this a us threat report official gas regulators assets crisis administration senior banks emissions natural economic disasters pollution regulatory process starting fossil called ready assessment executive plants catch require part beginning declined including program years fuels weather economy avert increases states gun physical order plans
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