Quantcast

Biden Orders Gov. Agencies to Address Financial Climate Change Risks

Business
Biden Orders Gov. Agencies to Address Financial Climate Change Risks
U.S. President Joe Biden delivers remarks during a virtual Leaders Summit on Climate at the White House on April 22, 2021 in Washington, DC. Al Drago-Pool / Getty Images

President Biden on Thursday ordered agencies across the federal government to prepare for risks to the American economy posed by climate change.


The harms inflicted by human-caused global warming are already being felt in the form of rising sea levels, extreme weather, wildfires, and droughts, but "these risks are often hidden," the White House said.

The executive order directs federal agencies to identify and mitigate climate risks in order to protect worker pensions, improve the resilience of food, water, and emergency supplies, and prepare infrastructure for climate impacts.

The order directs White House climate adviser Gina McCarthy and economic adviser Brian Deese to develop a government-wide strategy within four months to identify financial risks.

The SEC is already working on climate risk disclosure regulations, which experts say will create an incentive for corporations to mitigate climate risks in order to avoid losing investors.

For a deeper dive:

AP, New York Times, Reuters, Politico, E&E

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, sign up for daily Hot News, and visit their news site, Nexus Media News.

EcoWatch Daily Newsletter
Related Articles from EcoWatch
Recent Stories from EcoWatch