Posted on 12/15/2023 10:37:11 PM PST by Libloather
resident Biden's administration has begun probing the nation's largest banks to assess their plans to mitigate climate risk with their loans and business.
A recent "discovery review" led by the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) looked into more than two dozen banks to determine how they are accounting for climate risk in their loans and investment strategies, in addition to investigating how they manage energy finance and greenhouse gas emissions, Reuters first reported.
The purpose of this review is to supervise bank activities and support the effective management of climate-related financial risks among institutions with more than $100 billion in assets, according to the Treasury.
"The OCC has been conducting supervision activities at its largest banks (those with over $100 billion in total assets) to understand the banks’ climate-related financial risk management programs," an OCC spokesperson told FOX Business.
"The OCC’s focus on and supervision of climate-related financial risk is firmly rooted in its mandate to ensure that national banks and federal savings associations operate in a safe and sound manner. The OCC’s approach is focused on banks’ risk management, not on setting industrial policy," the spokesperson emphasized.
resident Biden has made identifying and acting on climate risk one of his administration's top priorities.
In October, the OCC, the Federal Reserve and the Federal Deposit Insurance Corporation jointly issued guidance for big banks to manage climate risk. More than 30 institutions met the regulator's $100 million asset threshold, Reuters reported.
The regulator used the discovery review to establish a baseline of banks' practices so it has a yardstick with which to assess their progress in implementing the guidance, sources told Reuters. The OCC may take disciplinary action as early as next year against banks that do not show progress, the sources added, requesting anonymity...
(Excerpt) Read more at foxbusiness.com ...
"killer heat waves" video 5:52
Tony takes apart bogus reports of "killer heat waves in our future."
It’s all a bunch of crap.
Money is waterproof.It’ll survive the rising oceans.
These banks just need gas powered generators to back up digital records when the rolling blackouts happen on windless nights. Is that enough, Treasury Department?
EC
All we are missing here is the Gauleiters. Or maybe not. Seems they're just called "Regulators" in American Bureaucratese.
Do banks now have climate scientists on staff to make such determinations? If I take out a loan for solar panels, does the bank determine the best location to place those solar panels to yield the greatest output during the peak demand season?
I remember in the 90’s when we had to sign an oath that, to the best of our knowledge, the supplies we were ordering for our Unit contained no CFCs and none were used to manufacture it...
You will know when they think they have enough control because gas taxes will be $10 gallon.
That seems like a good assessment of “climate change” or “climate risk”. Sure, the climate changes & sure, there is a risk when it does, but it’s always been this way...but men didn’t always try to collect money for saying they could change it.
The Obama Crime Gang at the White House ?
fascism’s trojan horse
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