Maui News

Climate Committee Meets With International Central Bank Leaders

October 17, 2019, 7:47 AM HST
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The Senate Democrats’ Special Committee on the Climate Crisis today heard from leaders of central banks from around the world who are taking action to address climate risks. Bank representatives from the Netherlands, France, Germany and Norway participated in the discussion.

US Senator Brian Schatz (D-Hawai‘i) who chairs the committee said, “These central banks understand that the growing impacts of climate change are creating risks to financial institutions and the financial system, and that it is within their mandate to manage those risks.”

According to Sen. Schatz, they are incorporating climate risk into the supervision of institutions, as well as developing climate stress tests, and coordinating efforts.

“Their thoughtful approach on handling the material risks climate change poses, however, is in direct contrast to US regulators, who have chosen to ignore it,” said Sen. Schatz.

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