Key U.S. financial regulator urges review of financial risk posed by climate change
New York - In the wake of renewed devastation from extreme weather in recent months, a top US financial regulator on Wednesday called for a comprehensive review of the risk posed by climate change.
"Our commodity markets and the financial markets that support them will suffer if we do not take action to mitigate the risk of contagion," Behnam said in opening remarks at a CFTC meeting on market risk. Trump has reversed key steps by former President Barack Obama, including the 2015 Paris climate agreement, but Behnam said agencies in other countries are working to assess the threat to markets from extreme weather.
Experts from the Bank of England, the Eurex Exchange and financial giant BlackRock participated in the CFTC meeting on climate change.
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