The Federal Deposit Insurance Corporation has published a Proposed Policy Statement for Climate-Related Financial Risk Management. The seventeen-page proposal would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks. Although all financial institutions, regardless of size, may have material exposures to climate-related financial risks, these draft principles are targeted at the largest financial institutions, those with over $100 billion in total consolidated assets. The draft principles are intended to support efforts by large financial institutions to focus on key aspects of climate-related financial risk management.
Comments will be accepted for 60 days after publication in the Federal Register, which is expected soon.