{"id":108907,"date":"2020-11-10T12:36:00","date_gmt":"2020-11-10T09:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/for-the-first-time-fed-identifies-climate-change-as-a-risk-to-financial-stability\/"},"modified":"2020-11-10T12:36:00","modified_gmt":"2020-11-10T09:36:00","slug":"for-the-first-time-fed-identifies-climate-change-as-a-risk-to-financial-stability","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/for-the-first-time-fed-identifies-climate-change-as-a-risk-to-financial-stability\/","title":{"rendered":"#\n  For the first time, Fed identifies climate change as a risk to financial stability"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a229a5519675\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a229a5519675\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/for-the-first-time-fed-identifies-climate-change-as-a-risk-to-financial-stability\/#A_firefighter_battles_the_Silverado_Fire_Monday_October_26_2020_in_Irvine_California\" >A firefighter battles the Silverado Fire Monday, October 26, 2020, in Irvine, California.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/for-the-first-time-fed-identifies-climate-change-as-a-risk-to-financial-stability\/#Steve_Goldstein\" >Steve Goldstein<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  For the first time, Fed identifies climate change as a risk to financial stability<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000063267\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          inline\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.640625%;\" data-mobile-ratio=\"66.640625%\" data-layout-ratio=\"66.640625%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-250737?width=140&amp;size=1.5005861664712778 140w,\nhttps:\/\/images.mktw.net\/im-250737?width=540&amp;size=1.5005861664712778 540w,\nhttps:\/\/images.mktw.net\/im-250737?width=620&amp;size=1.5005861664712778 620w,\nhttps:\/\/images.mktw.net\/im-250737?width=700&amp;size=1.5005861664712778 700w,\nhttps:\/\/images.mktw.net\/im-250737?width=860&amp;size=1.5005861664712778 860w,\nhttps:\/\/images.mktw.net\/im-250737?width=1260&amp;size=1.5005861664712778 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-250737?width=620&amp;size=1.5005861664712778\" data-enlarge=\"https:\/\/images.mktw.net\/im-250737?width=1260&amp;size=1.5005861664712778\" alt=\"\" title=\"A firefighter battles the Silverado Fire Monday, October 26, 2020, in Irvine, California.&lt;br&gt;\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\">\n<h4 class=\"wsj-article-caption-content\"><span class=\"ez-toc-section\" id=\"A_firefighter_battles_the_Silverado_Fire_Monday_October_26_2020_in_Irvine_California\"><\/span>A firefighter battles the Silverado Fire Monday, October 26, 2020, in Irvine, California.<br \/><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>      <span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            AP<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       For the first time, the Federal Reserve identified climate change as a risk to financial stability.<\/p>\n<div class=\"paywall\">\n       The Fed\u2019s quarterly financial stability report, released after stock markets closed on Monday, said climate change can produce storms, floods, droughts or wildfires that \u201ccan quickly alter, or reveal new information about, future economic conditions or the value of real or financial assets. Moreover, in the presence of rapid shifts in public perceptions of risk, chronic hazards (like a slow rise in sea levels) have the potential to produce similar abrupt repricing events,\u201d the central bank said.<\/p>\n<p> <strong>Related<\/strong>: Hedge-fund selling wasn\u2019t \u2018primary driver\u2019 of Treasury market turmoil, Fed study says<\/p>\n<p>The Fed identified real estate as an example of how climate change could impact financial markets. \u201cSome residential and commercial properties will be subject to acute hazards such as storm surges associated with rising sea levels and more intense and frequent hurricanes. Continued productive use of these properties would require investment and adaptation. As inundations or storm surges become more frequent, the expected value of exposed real estate may decrease, which may in turn pose risks to real-estate loans, mortgage-backed securities, the holders of these loans and securities, and the profitability of nonfinancial firms using such properties,\u201d the central bank said.<\/p>\n<p>Lael Brainard, a Fed governor who has been mentioned as a possible Treasury secretary in a Biden administration, hailed the move. \u201cIt is vitally important to move from the recognition that climate change poses significant financial stability risks to the stage where the quantitative implications of those risks are <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriately assessed and addressed,\u201d she said.<\/p>\n<p>Other governments and central banks have been more active on climate change. The U.K. government on Monday said it would introduce fully mandatory climate-related financial disclosure requirements across the U.K. economy by 2025, with a significant portion of mandatory requirements in place by 2023. <\/p>\n<p>European Central Bank President Christine Lagarde is including climate change in her strategy review of the central bank, and the ECB purchased green bonds as part of its broader bond-buying programs. Green bonds are debt whose proceeds are used to finance investment projects with an environmental benefit.<\/p>\n<p>By contrast, the Labor Department of the outgoing Trump administration ruled that retirement funds cannot invest in environmental, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> and governance vehicles that sacrifice investment returns or take on additional risk. <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Steve Goldstein\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Steve_Goldstein\"><\/span>Steve Goldstein<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21004575-02D4-D4B5-4572-DF72320EA773%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# For the first time, Fed identifies climate change as a risk to financial stability &#8221; A firefighter battles the Silverado Fire Monday, October 26, 2020, in Irvine, California. AP For the first time, the Federal Reserve identified climate change as a risk to financial stability. The Fed\u2019s quarterly financial stability report, released after stock&#8230;<\/p>\n","protected":false},"author":1,"featured_media":108908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-108907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/108907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=108907"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/108907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/108908"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=108907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=108907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=108907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}