'Climate-related risks are moving us toward a financial crisis. But regulators have not taken adequate steps to actually mitigate those risks,' warn 50 green groups.
and protests across the United States demanding financial institutions end fossil fuel financing, 50 climate, environmental justice, and Indigenous rights groups on Tuesday advocated for new regulations.
To prevent any potential for a cascade of bank runs after SVB's collapse, federal regulators have now effectively set a precedent of guaranteeing all bank deposits in all banking institutions nationwide, to be backstopped by the Federal Deposit Insurance Fund and then taxpayer dollars.
"Climate-related risks are moving us toward a financial crisis. But regulators have not taken adequate steps to actually mitigate those risks," the coalition warned, calling on U.S. policymakers to:
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