.jpg)
SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on a report released today by the Financial Stability Oversight Council (FSOC) that seeks to outline a whole-of-government process to assess climate risk to the U.S. financial system and federal government:
“The financial services industry has long been active on climate priorities. The transition to a low-carbon economy will require concerted and coordinated action by all stakeholders, including tremendous reliance of financial markets to facilitate green equity investment, sector transition financing, liquidity and risk management. We appreciate the Biden Administration’s commitment to examining the issues around climate-related risks and we look forward working together on developing a consistent, harmonized and actionable reporting and risk management framework.”
This past December, GFMA, SIFMA’s global sister trade organization, and Boston Consulting Group (BCG) published a report, “Climate Finance Markets and the Real Economy,” which provides a roadmap for how to accelerate the evolution of climate finance and defines the role capital market participants can play to facilitate the transition to a low-carbon economy in line with their responsibilities to serve clients, investors, and the societies in which they operate.
