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Category Archives: Financial System

Financial Stability Oversight Council Identifies Climate Change as an Emerging and Increasing Threat to Financial Stability

Treasury Press Release: “The Financial Stability Oversight Council (FSOC) has released a new report in response to President Biden’s Executive Order 14030, Climate-related Financial Risk. For the first time, FSOC has identified climate change as an emerging and increasing threat to U.S. financial stability. The report and accompanying recommendations demonstrate FSOC’s commitment to building on and accelerating existing efforts on climate change through concrete recommendations for member agencies to:

  • Assess climate-related financial risks to financial stability, including through scenario analysis, and evaluate the need for new or revised regulations or supervisory guidance to account for climate-related financial risks;
  • Enhance climate-related disclosures to give investors and market participants the information they need to make informed decisions, which will also help regulators and financial institutions assess and manage climate-related risks;
  • Enhance actionable climate-related data to allow better risk measurement by regulators and in the private sector; and
  • Build capacity and expertise to ensure that climate-related financial risks are identified and managed.

“Climate change is an emerging and increasing threat to America’s financial system that requires action,” Secretary of the Treasury Janet L. Yellen said. “FSOC’s report and recommendations represent an important first step towards making our financial system more resilient to the threat of climate change.  These measures will support the Administration’s urgent, whole-of-government effort on climate change and help the financial system support an orderly, economy-wide transition toward the goal of net-zero emissions.”

The full report and recommendations can be found here.  A factsheet on FSOC’s actions can be found here. A copy of Secretary Yellen’s remarks during the open session can be found here and a readout of FSOC’s meeting can be found here...”

Harvard, a Media Company

The Generalist: “Harvard, a Media Company. Harvard Business Review is a surreptitious media giant. Actionable insights –  If you only have a couple minutes to spare, here’s what investors, operators, and founders can learn from Harvard, as a media company. There are different paths to success. The Harvard Business Review (HBR) was founded in 1922… Continue Reading

What Makes Work Meaningful and Why Economists Should Care about It

IZA – Institute of Labor Economics DISCUSSION PAPER SERIES ISSN: 2365-9793IZA DP No. 13112 What Makes Work Meaningful and Why Economists Should Care about It. APRIL 2020. Milena Nikolova University of Groningen, Brookings and IZA, Femke Cnossen, University of Groningen: “We demonstrate why meaningful work, i.e. job-related activities that individuals view as purposeful and worthwhile, matters… Continue Reading

Free Law Project – Our Financial Disclosure Database is Now Available to All

“Two weeks ago, the Wall Street Journal published their blockbuster report detailing over 100 judges that had likely violated the Ethics in Government act. To do their work, the Wall Street Journal reporters had exclusive access to our database of financial disclosures. Today we are making the database available to all. Included in the database… Continue Reading

Biden Administration Roadmap to Build an Economy Resilient to Climate Change Impacts

U.S. Climate-Related Financial Risk Executive Order 14030 A Roadmap to Building a Climate-Resilient Economy, October 14, 2021 – 40 page PDF White House Fact Sheet: “Agency Actions Will Protect Retirement Plans, Homeowners, Consumers, Businesses and Supply Chains, Workers, and the Federal Government from Financial Risks of Climate Change. Today, the Biden-Harris Administration released a comprehensive,… Continue Reading

Hacks and data breaches are all too common. Here’s what to do if you’re affected.

Washington Post: “An unexplained Amazon charge on your credit card bill. An email asking you to confirm a password change request. A moment of confusion when your usual Google log-in details don’t work. These are all-too-common signs that someone has gained — or is trying to gain — access to your accounts. Hacks and data… Continue Reading

The thorny truth about socially responsible investing

Vox: “It’s easier than ever to invest ethically — or, at least, to be told by marketers you are. Whether you’re actually doing it is harder to figure out. Investors have become eager to put their money toward good in recent years. In 2020, assets under management using sustainable investing strategies in the United States… Continue Reading

Report – Ransomeware in a Global Context October 2021

“Welcome to VirusTotal’s first Ransomware Activity Report. This initiative is designed to help researchers, security practitioners and the general public better understand the nature of ransomware attacks by sharing VirusTotal’s visibility. One of the main challenges for defenders is understanding the whole picture. We all have a partial view at best and it has proved… Continue Reading

AidData’s Global Chinese Development Finance Dataset, Version 2.0

Custer, S., Dreher, A., Elston, T.B., Fuchs, A., Ghose, S., Lin, J., Malik, A., Parks, B.C., Russell, B., Solomon, K., Strange, A., Tierney, M.J., Walsh, K., Zaleski, L., and Zhang, S. 2021. Tracking Chinese Development Finance: An Application of AidData’s TUFF 2.0 Methodology. Williamsburg, VA: AidData at William & Mary. Dreher, A., Fuchs, A., Parks, B.… Continue Reading