White House Plans to address economic risk of climate change

A short time ago the White House released a sweeping plan to address climate change that covers nearly every area of government.

The administration says that it will protect families’ savings, as well as the financial, insurance, and housing markets.

The report lays out steps that could possibly change the mortgage process, stock market disclosures, retirement plans, and federal procurement and government budgeting.

The report points to multiple disasters this year, including the deadly winter storm in Texas that led to power outages and property damage; the record wildfire season out west; a heat dome that caused record temps in Washington and Oregon, and Hurricane Ida.

FEMA will update its standards for the National Flood Insurance Program, revising the guidelines set in 1976. Also, all federal agencies must now consider greenhouse gas emissions from the companies providing supplies.


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