For the first time, Fed identifies climate change as a risk to financial stability
Publish Date: 11/10/2020
News Source: MarketWatch
The Fed’s quarterly financial stability report … said climate change can produce storms, floods, droughts or wildfires that “can quickly alter, or reveal new information about, future economic conditions or the value of real or financial assets. Moreover, in the presence of rapid shifts in public perceptions of risk, chronic hazards (like a slow rise in sea levels) have the potential to produce similar abrupt repricing events.”
