House Democrats are seeking assurances from the Treasury Department that the agency will continue considering the risks climate change poses to the economy.
In a Friday letter led by Reps. Sean Casten of Illinois and Juan Vargas of California, 46 Democrats called on Treasury Secretary Scott Bessent to continue monitoring climate change’s effect on financial systems.
The letter comes after the department last month disbanded the Climate-Related Financial Risk Committee and the Climate-Related Financial Risk Advisory Committee — two staff-level bodies affiliated with the Financial Stability Oversight Council (FSOC). That oversight council is the arm of the Treasury Department tasked with monitoring U.S. economic stability.
The committees, the House Democrats said, “played a critical role in informing financial regulators about the increasing threat that climate change poses to our economy.”
