WASHINGTON – Today, President Joe Biden issued an Executive Order entitled ‘Executive Order on Climate-Related Financial Risk,’ addressing the risks posed by the climate crisis to the financial system and laying out actions to address and mitigate these risks as part of the Biden administration’s actions on climate change.
In response, Collin Rees, Senior Campaigner at Oil Change International, released the following statement:
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“Big banks continue to drive the climate crisis and perpetuate environmental injustice, pumping trillions of dollars into deadly fossil fuel projects. President Biden’s executive order is a welcome change from past failures to regulate the financial industry, but his team must make it crystal-clear that ‘net zero’ means no new fossil fuels.
“The legacy of Biden’s climate financial regulation and this executive order will hinge on choices yet to come—Secretary Yellen and the rest of the Biden team must work urgently to enact strong regulations ahead of this year’s crucial COP26 climate talks in Glasgow, and those actions must prioritize environmental justice and avoid false solutions.”
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