Economic risks related to Climate change in the United States are widely taken care of under Biden’s administration. A 40-page report was issued which explained plans made by the Government which covers Financial issues, housing matters, and safety of American Families.
As per the report disclosures related to the stock market, the process related to mortgage plans related to retirement, and government budget as well is been considered again so that people of the United States are prepared for the risks caused due by Climate Change.
The report prepared is on the follow-up since May and president Joe Biden is closely working on the risks associated with floods, storms, heat, etc, as he believes that these problems could affect the country in a big way.
MCCARTHY TAKE ON IT-
Gina McCarthy the national climate advisor of the White House believes that the present year has not shown anything but just the risks associated that the country faces due to Climate Change and it has affected the economy in a big way.
Not only the economy, but risks related to climate change has also affected the daily lives of Americans as well and now the Government should take this issue on a serious note.
If we speak about the storm that occurred in Texas in the month of February it not only resulted in the approximate death of 200 people but also leads to severe damage of the property of the people as well.
If we talk about Pacific Northwest, the heat vault that occurred caused a very high temperature in Seattle and Portland. In the month of August, Hurricane Ida got stuck and occurred a deadly flood in the parts of the Northeast.
Biden administration advised taking serious actions about climate change suggesting different ideas on how the people of the United States should be prepared for the cost that the families of the nation are bearing because of such risks.
The report prepared signifies that how the Government of the United States is taking serious actions on the problems faced by the people the nation, It also shows that Government is also ahead of United Nations Climate Change which is running since 31st October in Scotland.
White House plans to address economic risk of climate change https://t.co/4UnLGPfbiq
— Tom Looby (@mapocoloco) October 15, 2021
On Wednesday, a rule was proposed for the investment managers by the labor department to take decisions wisely ahead when it comes to savings related to pension and retirement. The people in the management also mentioned that Government has also decided to ask federal agencies to release more Green House Emissions.
Different types of Federal agencies who are involving in lending and mortgages are looking closely over the issues related to the housing market. They are closely working with the house and urban development to work for people who have been greatly affected due to floods.
McCarthy also mentioned that he understands that change in the climate is a type of systematic risk and they are closely monitoring how the federal government works when it comes to stability related to the financial statement.