Banking & Credit

Nearly 150 Groups Urge Secretary Yellen to Create a Robust Climate Hub at Treasury with a Senior Leader

Over 145 organizations called on Treasury Secretary Janet Yellen to take quick action on the agency’s climate efforts. The coalition of environmental, social justice and consumer advocates said climate change poses a clear and immediate threat to the financial system and the economy.

“Regulators must address not only the risk that climate change poses to financial institutions and the system, but also the risk financial institutions inject into the economy through their high-carbon financing,” the groups wrote. “They must address the disproportionate impact of reckless carbon-polluting finance on the largely low-income communities of color who bear the brunt of climate harms.”