Federal regulators will no longer require banks to spell out how they manage climate-related financial risk, following objections from officials in the Trump administration and Republican lawmakers, who said that climate policy was distorting financial regulation.
In a joint move announced on Oct. 16, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency rescinded a set of rules called the Principles for Climate-Related Financial Risk Management for Large Financial Institutions.
