Climate Risk Scorecard
The 2023 Climate Risk Scorecard, produced by the Ceres Accelerator for Sustainable Capital Markets, assesses ten federal financial agencies on their actions to protect our capital markets, financial institutions, and communities from climate-related financial risks.
Ceres’ annual Climate Risk Scorecard assesses the actions that U.S. federal financial regulators take within their existing authority to address the systemic impacts of climate-related financial risk. The first iteration, published in 2021, found that regulators were behind in acting on these threats. The 2022 Scorecard showed that agencies had made significant progress in addressing climate financial risk.
Our 2023 iteration finds that 10 agencies Federal Reserve Bank (the Fed), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the National Credit Union Administration (NCUA), the U.S. Securities and Exchange Commission (SEC), the Municipal Securities Rulemaking Board (MSRB), the Public Company Accounting Oversight Board (PCAOB), the Commodity Futures Trading Commission (CFTC), the Federal Housing Finance Agency (FHFA), and the U.S. Department of the Treasury — have collectively taken over 100 public actions to address climate-related financial risk between July 2022 and June 2023.
Significant Progress
Some Progress
No Progress
Not Applicable
| Ceres Agency Scorecard | Treasury | FED | OCC | FDIC | NCUA | SEC | MSRB | PCAOB | CFTC | FHFA |
|---|---|---|---|---|---|---|---|---|---|---|
| Publicly affirm climate as a systemic risk |
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| Expand internal climate-related capacities |
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| Increase transparency regarding climate-related risk management activities |
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| Assess climate risks on financially vulnerable communities |
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| Produce research and data on climate risk |
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| Conduct climate-related scenario analysis |
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| Improve climate-related disclosure |
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| Include climate risk in supervisory guidance |
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| Include climate risk in regulation |
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