On December 16, 2021, the Office of the Comptroller of the Currency (“OCC”) released draft principles for climate-related financial risk management for large banks.  Feedback must be submitted by February 14, 2022.

The OCC is looking for feedback on all aspects of the draft principles.  Noting the emerging risks to banks and the financial system due to impending climate change, the OCC recognized both physical risks and transition risks to banks, particularly large banks (with over $100 billion in total consolidated assets).… Continue Reading