Letter to the Fed calling for climate principles

Nine organizations urge the Fed to issue climate-related risk guidelines for banks

U.S. PIRG signed a letter calling on the Board of Governors of the Federal Reserve System (the Fed) to require big banks to take climate change seriously.

Yazan Aboushi | TPIN
Mike Litt, PIRG's consumer campaign director, joins coalition partners calling on the Fed to issue climate principles.

The letter was signed by Amazon Watch, Americans for Financial Reform, Center for American Progress, E3G, The Greenlining Institute, Public Citizen, Sierra Club, U.S. Pirg, and 350.org.

As the groups wrote in the letter: 

“It is imperative that the Fed provide institutions with the guidance they need to firmly understand and address their climate-related financial risks and explain how the Fed intends to incorporate these risks into its examinations.”

In addition to the letter, U.S. PIRG and other advocates delivered a petition signed by 60,888 people calling for the climate principles.

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Authors

Mike Litt

Director, Consumer Campaign, PIRG

Mike directs U.S. PIRG’s national campaign to protect consumers on Wall Street and in the financial marketplace by defending the Consumer Financial Protection Bureau, and works for stronger privacy protections and corporate accountability in the wake of the Equifax data breach. Mike lives in Washington, D.C.

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