Federal Reserve Tells U.S. Banks To Assess Climate-Related Risks

The Federal Reserve has tasked the largest U.S. lenders to make an assessment of the risks they are vulnerable to in case of an extreme weather event caused by climate change. The U.S. central bank recently released information about a “pilot climate scenario analysis” that aims to find out what disruptions climate change and the energy transition itself could cause the business world, E&E News reports. As well as extreme weather events such as hurricanes, floods, and wildfires, scenarios that could affect top lenders’ performance…