Headline Roundup • May 20th, 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.
Featured Coverage of this Story
NPR (Online News)
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...
Washington Examiner
President Joe Biden is directing federal agencies to identify and address financial risks posed by climate change in a sweeping executive order that could affect much of the government budget and many private industries.
The Thursday order is the latest action by the Biden administration to enlist the financial sector in fighting climate change, both through dedicated efforts to reduce climate-related economic risks and actions to minimize public investment in fossil fuels.
"The global financial sector will be a crucial player, helping channel capital into investments to green our society," Treasury Secretary Janet Yellen...
Politico
President Joe Biden will direct agencies to mitigate the financial risk of climate change to homeowners, consumers, federal workers, businesses and the government itself in a sweeping executive order signed Thursday.
Extreme weather poses risks to supply chains, food and water, housing and energy, according to a two-page fact sheet on the order. National Economic Council Director Brian Deese called the measure a pivotal moment for the U.S. government.
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