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Financial regulation

Climate change is a financial risk. Ceres advocates for federal and state financial regulators to act on climate change as a systemic financial risk and implement systems-level change. 

Explore the Climate Risk Scorecard

We engage with and assess state and federal financial regulatory agencies, including the Federal Reserve Bank (Fed), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the National Credit Union Administration (NCUA), the U.S. Securities and Exchange Commission (SEC), the Municipal Securities Rulemaking Board (MSRB), the Public Company Accounting Oversight Board (PCAOB), the Commodity Futures Trading Commission (CFTC), the Federal Housing Finance Agency (FHFA), and the U.S. Department of the Treasury (Treasury) on the actions taken within their existing authority to address the systemic impacts of climate-related financial risk.

See the latest results

Our impact

We drive real progress through our reports, recommendations, comment submissions, and engagements with regulators and elected officials.

The New York Department of Financial Services (NYDFS) finalized its climate risk guidance for banking and mortgage, which included provisions to reduce mitigate disproportionate impacts on low-to-moderate income (LMI) communities and communities of color. Ceres supported the NYDFS drafting process with technical comments, individual meetings, and public events.

The SEC adopts a new rule to strengthen accuracy and reliability in the naming of investment funds.

Secretary Janet Yellen released the Treasury’s “Principles for Net-Zero Financing & Investment,” calling for companies and investors to prepare climate transition plans with a consistent approach. Ceres worked extensively with Treasury staff and is now supporting the ongoing discussions.

Ceres applauded the Fed, OCC, and FDIC on the release of joint Principles for Climate-Related Financial Risk Management, which is the first federal guidance for large banks to manage climate risks.

The Fed, OCC, and FDIC ALSO updated the Community Reinvestment Act (CRA) to include activities that support disaster preparedness and weather resiliency in low-to-moderate income (LMI) communities. Ceres had requested the explicit incorporation of racial equity and strengthening of crucial environmental and climate provisions.

In addition, Ceres co-sponsored and rallied investor and corporate support for California bill SB 253, the Climate Corporate Data Accountability Act, and SB 261, the Climate-Related Financial Risk Act — which will require thousands of companies to disclose their Scope 1, 2, and 3 greenhouse gas emissions and climate-related financial risk information.

Minnesota passed a bill requiring financial institutions with over $1 billion in assets to complete a climate risk disclosure survey. Ceres is supporting the MN Department of Commerce in developing the reporting form.

Ceres welcomed the announcement of the Fed’s pilot climate scenario analysis program with Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo, while suggesting areas for improvement.

Ceres strongly encouraged the adoption of two SEC proposals to strengthen fund integrity and reduce greenwashing.

Ceres rallied investor and corporate support for the SEC’s critical rule proposal to require mandatory disclosure of climate risks from all publicly traded U.S. companies.

Ceres issued recommendations to the Fed and other banking regulators to address climate risks by issuing guidance, conducting reviews and research, establishing scenario analyses, and more. by issuing guidance, conducting reviews and research, establishing scenario analyses, and more.

California Insurance Commissioner Ricarda Lara created the first-ever consumer-oriented database of green insurance policies, in line with Ceres recommendations.

Explore our reports

We deliver cutting-edge research and recommendations to help regulators protect our economy from systemic climate risks.

NYC cityscape with storm approaching
Sep 29, 2022
Derivatives & Bank Climate Risk
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May 10, 2022
The Changing Climate for Credit Unions
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Sep 8, 2021
The Consequences of Physical Climate Risk for Banks
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Latest updates on our advocacy

Get ready for standardized climate disclosure

The U.S. Securities and Exchange Commission now requires public companies to disclose their material climate-related risks and the measures they are taking to manage those risks. Ceres can help you understand the rule and its impact.

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Events and webinars

Lake landscape
Apr 8, 2024
The New Era of Transparency: A Briefing on the SEC’s Climate Disclosure Rule
Federal Reserve seal on the five dollar bill
Dec 18, 2023
Charting Progress: Regulator Actions on Climate Financial Risks
Office of the Comptroller of the Currency building
Dec 6, 2022
The 2022 Climate Risk Scorecard: Assessing U.S Financial Regulator Action

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