U.S. group urges Biden to use financial regulation to control climate change

Reuters ^ | October 27, 2020 | By Valerie Volcovici

[Oldeconomybuyer]

WASHINGTON - A climate advocacy group comprised of high-profile backers of Democratic presidential candidate Joe Biden on Tuesday urged the former vice president to consider using U.S. financial regulation as a tool to fight global warming if he is elected.

Evergreen Action, a group of former staffers of Washington Governor Jay Inslee and Senator Elizabeth Warren who have advised the Biden campaign on a range of issues, handed the campaign a policy memo detailing how he could use the U.S. financial system to counter climate change within his first 100 days in office if he defeats Republican President Donald Trump.

“We can’t just focus on the Environmental Protection Agency or the Interior Department. We really need to start thinking more expansively about tackling climate change,” said Maggie Thomas, political director of Evergreen Action.

The recommendations here include appointing nominees to key posts like the Treasury secretary, a new Federal Reserve chair in 2022, and others, who prioritize climate action and are likely to support measures to increase transparency around the financial risks posed by global warming.

The memo also calls on the next administration to catch up with other countries whose central banks have taken action to measure and mitigate climate risks to financial markets. It also recommends creating a climate “stress test” for large financial institutions, and urges the financial sector to prioritize clean investments in communities of color.

The Federal Reserve has only recently begun to acknowledge the potential for climate change to destabilize the financial system and consider possible responses.

Meanwhile, the Trump administration has sought to discourage institutional investors from favoring clean energy over fossil fuels, calling it discriminatory, stymie investor pressure to address climate change, and limit required environmental risk disclosures.

[Oldeconomybuyer]

[freedumb2003]

>>A climate advocacy group comprised of high-profile backers of Democratic presidential candidate Joe Biden on Tuesday urged the former vice president to consider using U.S. financial regulation as a tool to fight global warming if he is elected.<<

b/c stealing people’s money fixes the environment.

[Zathras]

They want to do the same thing they did for Obamacare.
“Its a tax”

[rktman]

NEWS FLASH🎆! We're not controlling the climate. ByeDUHn or not.

[RightGeek]

prioritize clean investments in communities of color.

Vegan restaurants in the hood? First ones to be burned in the next Biden rally.

[Ndorfin]

“....... if he is elected”

And there comes the rub.

[beethovenfan]

Strangle the economy to get NO effect on “climate”. These people are nuts.

[SaveFerris]

[b/c stealing people’s money fixes the environment.]

And there are people stupid enough to believe just that.

[Lurkina.n.Learnin]

He gonna jack up your electricity prices like California does.

[Billthedrill]

It will take more than that. It will take complete control of every facet of your life, from what you eat to where you travel and how, to how many people you will be allowed to gather with, what you read, see on television and the movie screens, how much electricity you use, and how your children are educated. Only then will the environment be safe!

Don't call them totalitarians, though.

[Rurudyne]

Classic!

[palmer]

Gurgle can't be treasury secretary because he's dead.

[palmer]

Tyranny of the model.

[SaveFerris]

Yeah, you gotta love that one.

And then there was the great movie “The Day After Tomorrow”.

I guess that ship is still stuck in NYC. And the wolves!

[Rurudyne]

“Global warming is going to strike two days before the day after tomorrow.” South Park scientist

[SaveFerris]

Oh my gosh, that’s TODAY!!!

[Rurudyne]

I still fondly recall the House of Next Tuesday from the Ren and Stimpy cartoon.

[SaveFerris]

I never saw that one. Sounds funny.

[metmom]

Funny how the fix for every problem is by pouring more money into something.

[M Kehoe]

US group ask Biden to wave magic wand when elected.

Film at eleven.

5.56mm