US Regulators Reverse Climate Risk Standards for Banks Following Political Pressure
US banking regulators have withdrawn climate-related financial risk standards for financial institutions. The move follows significant pressure from former President Donald Trump and Republican lawmakers who argued climate considerations had become overly influential in financial regulation.
Regulatory Shift on Climate Risk Management
United States banking regulators have reportedly reversed course on requiring financial institutions to detail their management of climate-related financial risks, according to recent statements from federal agencies. The decision comes after sustained pressure from former President Donald Trump and Republican Party lawmakers who have consistently argued that climate considerations were exerting undue influence on banking oversight.