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New York to Join Global Regulators’ Green Banking Push

Sept. 24, 2019, 4:57 PM

New York state is taking the lead among U.S. regulators on assessing the risks that climate change poses to the financial system.

The New York Department of Financial Services on Sept. 24 became the first state financial regulator in the U.S. to join the Network for Greening the Financial System, a group of 50 global financial supervisors. The network develops metrics to help define the risks that climate change poses to the financial system and creates new supervision tools to get banks to contribute to the fight against global warming.

The DFS also joined the Sustainable Insurance Forum, a network ...