Why does the San Francisco Fed care about climate change? We recognize that understanding the economic risks of climate change is essential to achieving our mission. Watch our short video for the big picture.
Why does the Fed care about climate change? Our video explains (video, 1:04 minutes).
Transcript
Why does the San Francisco Fed care about climate change?
Because it can affect our goal to promote a strong economy with low inflation and financial stability.
We need to understand and prepare for the increase in severe weather events, and for the disruptions that they may cause.
We regulate and supervise banks, so we need to make sure they are prepared for financial risks related to climate change.
We set policy that helps keep people employed and prices stable. So we need to understand current and future risks to our economy.
We provide enough currency to meet public demand, so we make sure you have access to cash when you need it.
When you put all these pieces together, it becomes pretty clear. Climate change is an economic issue that we can’t afford to ignore.
Learn more about why the San Francisco Fed cares about climate change: SFFed.us/climate
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The views expressed here do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.