President Joe Biden on Thursday directed federal agencies to assess and mitigate the increasing and significant risks that climate change poses to individuals, businesses, the federal government and the U.S. financial system, the White House said.
“This cannot be optional. The stakes are simply too high. The federal government has to lead by example,” Biden’s climate czar, Gina McCarthy, told reporters. “And we need to require the same level of responsibility from those we do business with.”
Biden issued an executive order that requires development of a comprehensive government-wide climate risk strategy within 120 days, as well as an annual assessment of climate-related fiscal risks, the White House said.