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Climate Risk Scorecard

The 2023 Climate Risk Scorecard, produced by the Ceres Accelerator for Sustainable Capital Markets, assesses ten federal financial agencies on their actions to protect our capital markets, financial institutions, and communities from climate-related financial risks.

About these assessments

Ceres’ annual Climate Risk Scorecard assesses the actions that U.S. federal financial regulators take within their existing authority to address the systemic impacts of climate-related financial risk. The first iteration, published in 2021, found that regulators were behind in acting on these threats. The 2022 Scorecard showed that agencies had made significant progress in addressing climate financial risk.  

Our 2023¬†iteration finds that 10¬†agencies¬†Federal Reserve Bank¬†(the 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¬†‚ÄĒ¬†have collectively taken over 100 public actions to address climate-related financial risk between July 2022 and June 2023.¬†¬†

Assessment Key
Significant ProgressSignificant Progress
Some ProgressSome Progress
No ProgressNo Progress
Not ApplicableNot Applicable
Ceres Agency Scorecard Treasury FED OCC FDIC NCUA SEC MSRB PCAOB CFTC FHFA
Publicly affirm climate as a systemic risk
Significant Progress
Significant Progress
Significant Progress
Significant Progress
Significant Progress
Significant Progress
Significant Progress
No Progress
Significant Progress
Significant Progress
Expand internal climate-related capacities
Significant Progress
Significant Progress
Significant Progress
Some Progress
Some Progress
Significant Progress
Some Progress
Some Progress
Significant Progress
Significant Progress
Increase transparency regarding climate-related risk management activities
Significant Progress
Some Progress
Some Progress
Some Progress
Some Progress
Significant Progress
Some Progress
No Progress
Some Progress
Significant Progress
Assess climate risks on financially vulnerable communities
Some Progress
Some Progress
Some Progress
Some Progress
Some Progress
No Progress
Not Applicable Not Applicable
No Progress
Significant Progress
Produce research and data on climate risk
Significant Progress
Some Progress
Some Progress
Some Progress
Some Progress
Some Progress
Some Progress
Some Progress
Some Progress
Significant Progress
Conduct climate-related scenario analysis Not Applicable
Significant Progress
No Progress
No Progress
No Progress
Not Applicable Not Applicable Not Applicable Not Applicable
Some Progress
Improve climate-related disclosure
Significant Progress
No Progress
No Progress
No Progress
No Progress
Some Progress
Some Progress
No Progress
Some Progress
Some Progress
Include climate risk in supervisory guidance
Some Progress
Some Progress
Some Progress
Some Progress
Some Progress
Significant Progress
Some Progress
No Progress
Some Progress
Significant Progress
Include climate risk in regulation Not Applicable
No Progress
No Progress
No Progress
No Progress
Some Progress
No Progress
No Progress
No Progress
No Progress

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