GOP lawmakers look to scrap climate guidance for banks

By Kelsey Brugger | 04/09/2024 06:34 AM EDT

A trio of resolutions seeks to overturn documents that prod institutions to address the financial risks of climate change.

Rep. Byron Donalds (R-Fla.).

Rep. Byron Donalds (R-Fla.) at the Conservative Political Action Conference in February. He and two other House Republicans are sponsoring legislation to overturn climate guidance for banks. Jose Luis Magana/AP

House Republicans are working to thwart actions from regulators that push banks to consider the financial threats of climate change.

Reps. Byron Donalds (R-Fla.), Scott Fitzgerald (R-Wis.) and Erin Houchin (R-Ind.) last week filed three separate resolutions that would strike down policies that seek to encourage large institutions with more than $100 billion in assets to adopt protocols that take risk management into account.

Donalds, who serves on the House Financial Services Committee, has broadly blasted banking regulators for focusing on climate change and not “doing the job.”


That committee will be holding a hearing this week on a separate proposed Securities and Exchange Commission climate disclosure rule. Although the SEC has paused implementation amid legal challenges, Republicans are still seeking to overturn it.