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US regulators nix agency principles for managing climate-related financial risk

Tabular icebergs float near the coast of West Antarctica as seen from a window of a NASA Operation IceBridge airplane on October 28, 2016 in-flight Antarctica.
Photo: Mario Tama/Getty Images

Catherine Ollinger

2 min read
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Current staff believe that the climate principles established just two years ago may distract large financial institutions from managing material risks.

Federal bank regulatory agencies on October 16 announced the rescission of principles established in 2023 pertaining to climate-related financial risk management.

Calling the guidance unnecessary, the Federal Deposit Insurance Corporation (FDIC), The Federal Reserve, The Treasury, and the Office of the Comptroller of the Currency (OCC) officially withdrew interagency Principles for Climate-Related

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