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Biden administration warns that climate change poses risks to financial system
The Biden administration on Thursday released a report warning that climate change poses an emerging threat to the stability of the U.S. financial system and urging bank regulators to take steps to mitigate that risk.
But the report by the Financial Stability Oversight Council is likely to disappoint climate activists who sought stronger measures to curtail the flow of investments into fossil fuel companies and other major emitters of the greenhouse gases that are heating the planet.
The report urges financial regulatory agencies to consider