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ARTICLE · 29 MARCH 2021

Federal Reserve Board Governor Highlights Regulatory Approach To Climate Risk

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Federal Reserve Board ("FRB") Governor Lael Brainard outlined the FRB's efforts towards addressing the microprudential and macroprudential implications of climate change.

United StatesEnvironment
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Federal Reserve Board ("FRB") Governor Lael Brainard outlined the FRB's efforts towards addressing the microprudential and macroprudential implications of climate change. In a speech at the "Transform Tomorrow Today" Ceres 2021 Conference, Ms. Brainard said that a tailored framework would enable the financial system to be resilient to risks associated with climate change.

Ms. Brainard warned that "Financial market participants that do not put in place frameworks to assess and address climate-related risks could face significant losses on climate-sensitive assets caused by environmental shifts, by a disorderly transition, or both." She advocated for "robust risk management; scenario analysis; consistent, comparable disclosures; and forward plans can help ensure the financial system is resilient to climate-related risks and well positioned to support the transition to a sustainable economy."

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