Federal Housing Finance Agency (FHFA) Acting Director Sandra L. Thompson recently released the following statement on climate change:
”The FHFA recognizes that climate change poses a serious threat to the U.S. housing finance system. As a member of the Financial Stability Oversight Council (FSOC), FHFA is committed to working collaboratively with other federal agencies to make tangible progress toward addressing climate change and its consequences.
“FHFA’s regulated entities—Fannie Mae, Freddie Mac and the Federal Home Loan Bank System—have an important leadership role to play in addressing this issue. The Agency has instructed the enterprises and encourages the FHLBanks to designate climate change as a priority concern and actively consider its effects in their decision making. To this end, FHFA recently announced a new Conservatorship Scorecard that will hold the enterprises accountable for ensuring resiliency to climate risks. FHFA is also enhancing its agency-wide monitoring and supervision of climate change issues.”