US regulators endorse efforts to address climate risks

By JOSH BOAK and MARTIN CRUTSINGER
Associated Press

WASHINGTON (AP) — U.S. financial regulators are acknowledging climate change to be a serious threat to the stability of the nation’s financial system. On Thursday, they approved a series of steps aimed at addressing the financial dangers posed by a changing climate. The actions were approved by the Financial Stability Oversight Council, which is headed by Treasury Secretary Janet Yellen and includes Federal Reserve Chairman Jerome Powell and the heads of other financial regulatory agencies. The council’s 130-page report included more than 30 recommendations aimed at improving efforts to assess risks to financial stability from climate change.