Biden Wants To Measure How Climate Change Impacts America's Finances

President Biden wants the government to measure the financial fallout of a changing climate on American families, businesses and the federal government.

On Thursday, Biden signed an executive order compelling key regulators including Treasury Secretary Janet Yellen and other members of the Financial Stability Oversight Council to assess the risks that a changing climate poses to the U.S. financial system.

It also suggests the Council make recommendations within six months on steps to reduce those risks.

"Americans should be able to know the real risks that extreme weather and rising seas pose to the homes that they've invested in, or the small businesses that they've built up," said National Climate Adviser Gina McCarthy. "Knowing the risks is the first step to actually addressing them."