“Financial risks from climate change are unprecedented,” said Linda Lacewell, superintendent of the New York State Department of Financial Services, in a letter sent to New York-based banks on Thursday.
More than half of all syndicated lending at major U.S. banks is exposed to significant climate-change risk, which could result in more than $100 billion in losses, according to a report published in October by sustainable-finance nonprofit Ceres. She recommended banks take steps across their governance, risk management and business strategies to better prepare for climate change though these approaches should be based on the size and complexity of the bank.
They’ll drive more business out of the city and state. More nonsense regulations like these cost money. Just like Eilliot Capital Funds moving to Florida. The mass exodus will continue.
What's the point between banks and climate change 🤔?
Ms Lacewell would do well to stick to banking. Or something else.
Won't make much difference when the rest of us move away
When POTUS concluded he could kill someone on Fifth Avenue and get away with it, he decided to take it to another order of magnitude by killing hundreds of thousands on streets all over the United States of America!
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