The Office of the Comptroller of the Currency (OCC) has issued Draft Principles for Climate-Related Financial Risk Management for Large Banks. These Draft Principles detail how banks should manage climate risks in order to operate in a safe and sound manner, and represent an important first step to protect our financial system from climate risks. Along with partner organizations, we submitted comments supporting the OCC's Draft Principles and offering potential next steps for the OCC, including: issuing additional detailed guidance on types of climate-related risks; guiding banks on best practices when using climate-related data; exploring avenues to incorporate climate risks into regular bank reporting; designing climate scenario analyses informed by best practices; and proactively working to protect credit access in disadvantaged communities.
Comments to OCC on Draft Principles for Climate-Related Financial Risk Management for Large Banks
February 15, 2022 / Download