Federal Reserve Unveils Climate Risk Proposal for Big Banks for Public Comment
The Federal Reserve Board of Governors on Dec. 2 invited public comment on proposed principles for managing climate-related risks of banks with $100 billion or more in assets.
Six of the board’s seven members voted in favor of the move. They included Federal Reserve Chair Jerome Powell, who became chair under President Donald J. Trump. Powell was first appointed to the board by President Barack Obama.
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Fed in Washington, on Sept. 21, 2022. (Mandel Ngan/Getty Images)
One governor, Christopher Waller, dissented….