Like Omarova, Ruskin withdrew her nomination. “Sarah has received baseless attacks from industry and conservative interest groups,” Biden said in a statement.
Treasurers are also setting their sights on new federal rules and regulations aimed at strengthening the government’s ability to address climate change.
Late last year, the State Financial Officers Foundation, in partnership with the Heritage Foundation, received an award from the Financial Stability Oversight Council, a government panel assigned to minimize risks to the financial sector, to reduce the threat posed by climate change. Records show that it responded to suggestions on how to do so. .
And shortly after, Utah state treasurer Oakes drafted a letter opposing a potential Labor Department rule that would allow retirement plans to consider global warming risks in investment strategies. Mr. Kreifels circulated the draft to members of the foundation, which was signed by more than a dozen treasurers. last letterThe Department of Labor has not decided whether to implement the rule.
This year, accountants targeted the Comptroller of the Currency.After the agency proposed a rule requiring banks to consider climate-related financial risks, executives at the Heritage Foundation sent Kluifels and Oakes a memo outlining their objections. Dozens of state treasurers and attorneys general in Republican-led states filed comment I object to the proposed rule.
“This particular concern and attention to climate-related risks is unreasonable,” read one comment.
And in May, Kluifels organized a conference call with financial officials to discuss proposed regulations by the Securities and Exchange Commission that would require companies to disclose climate change risks to investors. Featured guests were representatives of the American Petroleum Institute, the lobbying arm of the fossil fuel industry.
The following month, the State Financial Officers Foundation published on page 20 letter A dozen Treasurers have signed on to call the yet-to-be-enacted SEC’s proposed rule “absurd climate exceptionalism, elevating the climate issue to a critical place not worthy of disclosure.” calling.