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by Amy Lupica, ODP Staff Writer As President Biden’s long-anticipated virtual Earth Day climate summit begins today, dozens of companies are set to announce significant investments in renewable energy, electric vehicles, and conservation to help the U.S. reach net-zero emissions by 2050. Yet it will be the global financial sector that will be subject to increased pressure […]
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Politico reports that 47 Republican Members of Congress wrote the Chair of the Federal Reserve Board, Jerome Powell, to urge that the Fed refrain from requiring banks to conduct “stress” tests to determine their vulnerability to climate change.
Why This Matters: Really? Does failing to test the ability of banks to withstand a major financial risk make the risk go away? This is climate denial that will really cost our economy.
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by Julia Pyper, Host/Producer, Political Climate Cities and states have powerful roles to play in divesting from fossil fuels and directing investments toward sustainable industries. There are a number of ways for these sub-national actors to participate in the divest/invest movement and help pave the way for more widespread action. In this episode of Political […]
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Climate-induced flooding has inundated coastal cities, yet new reporting from Politico shows that government mortgage lenders like Fannie Mae and Freddie Mac continue to pump money into severely flood-prone property markets. As such in the Florida town of Hialeah, federal taxpayers hold greater than 60% of home mortgages. And as Politico explained, “if the homes […]
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by Julia Pyper, Host/Producer, Political Climate A growing number of financial institutions are moving their investments from fossil fuels into less polluting projects and resources. So what do oil and gas companies make of this shift? Some of them are waking up to the clean energy transition in response to investor pressure. But there are […]
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Banks don’t just hold on to your dollars and cents, they also play a role in addressing the climate crisis. In the latest episode of Political Climate’s DITCHED series, the show takes a closer look at the banking sector and what institutions like JP Morgan Chase, Bank of America, Wells Fargo and others can do […]
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