![](https://thecorporatemagazine.com/wp-content/uploads/2024/07/Navigating-the-Techno-Tide-300x169.png)
Navigating the Storm: The Art of Mindful Leadership in Corporate Seas
In the ever-evolving work landscape, where technological tides are reshaping the shores of employment, the question …
October 25, 2021: On Thursday, the Treasury Department’s Financial Stability Oversight Council released a report that assessed the risks changes climate poses to the U.S. financial system and provided recommendations to protect the economy.
The council issued the report in response to President Joe Biden’s executive order that directed Treasury Secretary Janet Yellen, the head of the FSOC, and financial regulators to produce a report on climate-related financial risk data.
The blueprint potentially moves forward new regulations and oversight related to climate-based financial risk on Wall Street.
Climate-related disasters such as heatwaves, drought, floods, and wildfires have grown more frequent and threaten to upend the financial system’s stability. According to the National Oceanic and Atmospheric Administration, in 2020 alone, a record number of disasters caused $95 billion in damages.
The FSOC’s report also accounts for how climate change will likely create abrupt shocks to the financial system in the coming years. The report said that different sectors would experience stresses as policy, consumer sentiment, and technologies shift to mitigate climate change.
For instance, last year, a Commodity Futures Trading Commission panel cited data estimating that between $1 trillion and $4 trillion in global wealth connected to fossil fuels could be destroyed.
On Thursday, During a call with CNBC, a senior Treasury official said the FSOC anticipates all council members will sign on to the report and formally establish the Climate-related Financial Risk Committee with a charter.
Over 20 federal agencies published climate adaptation plans identifying the most significant threats climate change poses to their operations and facilities and planning to address them.
More recently, the Biden administration published a governmentwide roadmap to account for the way climate change could harm the companies invested in and protect American families’ savings with retirement plans.
In November, the president is set to attend the United Nations Climate Change Conference of the Parties, or COP26, in Scotland. The U.S. has vowed to slash domestic greenhouse gas emissions in half by 2030 and reach net-zero emissions by 2050.
In the ever-evolving work landscape, where technological tides are reshaping the shores of employment, the question …
In the high-stakes game of corporate leadership, where every decision reverberates through the echelons ….
In the corporate landscape, where conformity often reigns supreme, what if I told you that rebels aren’t troublemakers but …
In the corporate landscape, where conformity often reigns supreme, what if I told you that rebels aren’t troublemakers but …
As the storm of the pandemic begins to subside, corporate leaders face a landscape that has forever changed. The question …
In the ever-evolving symphony of corporate dynamics, a new movement has emerged, reshaping the traditional …
In a recent transaction, Janney Montgomery Scott LLC, a financial services firm, purchased 7,125 shares of the iShares ESG Advanced …
A recent regulatory filing reveals that Envestnet Portfolio Solutions Inc. has decreased its holdings in the Invesco S&P 500 Equal …
Discover the number of choices of black british dating If you are looking for a dating site that caters particularly to black british singles, then
In the ever-evolving work landscape, where technological tides are reshaping the shores of employment, the question …
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you