BPI Statement on CAP/Sierra Club Climate Report

Washington, D.C. – BPI today released the following statement by SVP and Associate General Counsel Lauren Anderson in response to a Center for American Progress and Sierra Club report on climate risk and the U.S. financial sector:

Today’s report by the Center for American Progress and Sierra Club notes the important role that the financial sector will play in supporting a U.S. energy transition; however, the recommendations would be a very blunt tool that would only serve to limit legitimate transition financing and push financing out of regulated banks and into the unregulated sector.  The nation’s largest banks are actively involved in efforts to improve climate-risk management through enhanced disclosure and the development of tools such as scenario analysis.  More draconian measures such as adjusting risk weights, imposing a GSIB climate surcharge or tightening credit limits are premature at this point in time given the nascent stage of climate-risk analysis and extensive data and methodological gaps that persist.

For more of BPI’s work on climate, see the links below: 


About Bank Policy Institute.

The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.

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