Headline RoundupMay 21st, 2021

Biden Signs Executive Order Addressing 'Financial Risks' of Climate Change

Summary from the AllSides News Team

President Joe Biden on Thursday signed an executive order directing federal agencies to examine and address the risks climate change poses to the U.S. financial system. Potential threats to the financial system include extreme weather that poses risks to supply chains, food, water, housing and energy, according to a fact sheet on the order. The order also directs regulators and purchasing agencies to reevaluate how they do the taxpayers’ business, and instructs National Economic Council director Brian Deese to examine the financing that would be required to transition to a carbon-free economy in the next thirty years. The Federal Stability Oversight Council is to make recommendations on steps to reduce those risks within six months.

Coverage from the left tended to focus on the potential effects of climate change on the U.S. system if not addressed. Coverage from right- and center-rated outlets tended to focus on the details of the order. 

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