Schatz Statement On Senate Democrats’ Climate Committee’s Meeting With International Central Bank Leaders

October 17, 2019

WASHINGTON -- Today, U.S. Senator Brian Schatz (D-Hawai‘i), Chair of the Senate Democrats’ Special Committee on the Climate Crisis, released the following statement after the committee met with senior officials from the central banks of the Netherlands, France, Germany, and Norway.

“Today, our committee heard from leaders of central banks from around the world who are taking action to address climate risks. These central banks understand that the growing impacts of climate change are creating risks to financial institutions and the financial system, and that it is within their mandate to manage those risks. They are incorporating climate risk into the supervision of institutions, they are developing climate stress tests, and they are coordinating their efforts. Their thoughtful approach on handling the material risks climate change poses, however, is in direct contrast to U.S. regulators, who have chosen to ignore it.”