NYDFS created a new Climate Risk Division, with a new Executive Deputy Superintendent overseeing the Division, which will:
– integrate climate risks into its supervision of regulated entities
– support industry growth in managing climate risks
– coordinate with international, national, and state regulators
– develop internal capacity on climate-related financial risks
– support capacity-building of peer regulators on climate-related supervision
– ensure fair access to financial services for all communities, especially those most impacted by climate change.
Press release is here: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202111032