Like Ms. Omarova, Ms. Raskin withdrew her nomination. “Sarah was subject to baseless attacks from industry and conservative interest groups,” Mr. Biden mentioned in an announcement.
The treasurers have additionally set their sights on new federal guidelines and laws meant to strengthen the federal government’s potential to behave on local weather change.
Late final yr, the State Monetary Officers Basis labored with the Heritage Basis to answer proposals from the Monetary Stability Oversight Council, a authorities panel assigned to attenuate danger within the monetary sector, on methods to scale back the threats posed by local weather change, data present.
And shortly after that, Mr. Oaks, the Utah treasurer, drafted a letter opposing a possible Division of Labor rule that will enable retirement plans to contemplate dangers from world warming of their funding technique. Mr. Kreifels distributed the draft to the muse’s members, and greater than a dozen treasurers signed the ultimate letter. The Division of Labor has not determined whether or not to implement the rule.
This yr, the treasurers focused the Office of the Comptroller of the Forex. After the company proposed a rule to require banks to contemplate climate-related monetary danger, executives from the Heritage Basis despatched Mr. Kreifels and Mr. Oaks a memo outlining their opposition. Inside weeks, dozens of state treasurers and attorneys normal from Republican-led states submitted feedback objecting to the proposed rule.
“This special concern for and attention to climate-related risks is irrational,” one remark learn.
And in Might, Mr. Kreifels organized a name with the treasurers to debate laws proposed by the Securities and Trade Fee that will require corporations to publicly disclose local weather dangers to buyers. The featured visitor was a consultant from the American Petroleum Institute, the lobbying arm of the fossil gasoline business.
The subsequent month, the State Monetary Officers Basis despatched a 20-page letter signed by greater than a dozen treasurers, calling the S.E.C.’s proposed rule, which has not but been enacted, “irrational climate exceptionalism, elevating climate issues to a place of prominence in disclosures that they do not deserve.”