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7/29/2022 Financial Stability Oversight Council Releases Factsheet on Climate-Related Financial Risk Efforts | U.S. Department of… Financial Stability Oversight Council Releases Factsheet on Climate-Related Financial Risk Efforts July 28, 2022 WASHINGTON — The Financial Stability Oversight Council (Council) convened today and received an update on progress made by the Council and its members to identify and address climate-related financial risk. In its October 2021 Report on Climate Related Financial Risk, the FSOC identified climate change as an emerging threat to financial stability and issued over 30 related recommendations to financial regulators. The Council and its 15 members have been working in close coordination since the report to advance these recommendations, and have made considerable progress in the areas of capacity building, disclosure, data, and risk assessment. Climate-related financial risk has been a key priority since 2021, and the Council has also established a new sta -level interagency committee to coordinate these e orts. The accompanying factsheet released today details the progress made to-date by the FSOCʼs members in implementing the climate-related financial risk reportʼs recommendations. As climate change continues and associated economic costs are expected to grow, the Council recognizes the critical importance of ensuring the resilience of the financial system. View the Fact Sheet https://home.treasury.gov/news/press-releases/jy0894 1/1
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