ABA-Powell: Climate Stress Scenarios to be Key Tool, Broader Climate Answers Must Come From Others.
ENPNewswire-January 12, 2022--ABA-Powell: Climate Stress Scenarios to be Key Tool, Broader Climate Answers Must Come From Others
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Release date- 11012022 - Climate change stress tests will 'be a key tool going forward,' Federal Reserve Chairman Jerome Powell told members of the Senate Banking Committee today.
During a confirmation hearing today, Powell told the committee that the Fed is looking at climate stress tests, and, is focused on 'assuring that the large financial institutions understand all the risks that they are taking, including the risks that may be inherent in their business model regarding climate change over time.'
Powell acknowledged that if he is confirmed, climate change would be a top priority over the coming...
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