Financial regulators should act to avoid economic disaster, according to a letter from pension funds and other investors representing almost $1 trillion in assets. That financial threat, combined with the physical risks posed by climate change, may create “disastrous impacts the likes of which we haven’t seen before,” the letter says. It urges the Fed, the Securities and Exchange Commission and other agencies to “explicitly integrate climate change across your mandates.”
Christopher Flavelle. New York Times. July 21, 2020.