12.13.21

Janet Yellen Walks Political Tightrope to Deliver on Biden’s Climate Promises

by: Amara Omeokwe; Paul Kiernan

In instructing financial regulators to take steps to reduce risks tied to climate change in her role as chair of the Financial Stability Oversight Council (FSOC), Treasury Secretary Janet Yellen is walking a tightrope between Republicans who say financial regulators should stay out of climate policy and progressive Democrats who say bolder action is needed. As an overall approach to the issue, the FSOC released a report in October in which the group formally designated climate change an emerging and growing risk to U.S. financial stability, opening up the possibility of regulatory action. But the regulatory push is coming under scrutiny from the finance industry and different political corners.

Read the full article on Wall Street Journal