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Thread on new @CFTC #climaterisk report. Here are the highlights: First & perhaps most importantly, this report was a) commissioned by a majority-Republican federal regulatory agency and b) represents the consensus views of banks, investors, big companies, academics & enviros 1/
2/ Topline message: "US financial regulators must recognize that climate change poses serious emerging risks to the US financial system, and they should move urgently and decisively to measure, understand, and address these risks." Full report here (PDF): cftc.gov/sites/default/…
3/ Notably, the CFTC #climaterisk report does not just make recommendations to the CFTC, and is not limited by the jurisdiction of this agency (commodities, derivatives markets, etc). Also notable: the recommendations aren't binding. If Biden wins, they'll be a blueprint at best.
Read 20 tweets
So, what happened on finance in #ClimateActionSummit2019? One highlight was @IDFC_Network’s pledge to contribute more than USD 1 trillion of #climatefinance by 2025 bit.ly/2n4Sglt bit.ly/2mGrAaM
@IDFC_Network The much-anticipated MDB announcement bit.ly/2n508n1 also included large increases in #climatefinance (but do we understand the numbers? See initial reactions from @soniakdunlop and @joethw8s bit.ly/2lv8lRj)
@IDFC_Network @soniakdunlop @joethw8s Numerous countries pledged to double their @theGCF contribution, leading to hopes that the fund will be successfully replenished in dollar terms after a key conference in October bit.ly/2lvt33u
Read 12 tweets

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