The Treasury Department is emerging as a high-priority for climate progressives seeking to influence a Joe Biden administration, should he win the 2020 election. and Sarah Bloom Raskin, a former Federal Reserve governor who served as the deputy Treasury secretary in President Barack Obama’s second term. “There is a real recognition that climate risk is a structural risk for the U.S. economy and the global economy, and you can’t escape that,” said Bracken Hendricks, a climate policy expert and former senior adviser to Washington Gov. A climate-focused Treasury secretary could lean heavily on the 2010 Dodd-Frank law that overhauled financial regulation in the wake of the Great Recession. “The Treasury secretary straddles both the management of the dangers of systemic risk and also the opportunity to activate positive job creation,” he said.

Source: Huffington Post October 29, 2020 17:26 UTC