[ad_1]
Nearly five thousand credit unions are located across the country. They serve more than 130 millions people and represent over $800 billion in assets. $2 TrillionIn assets. Credit unions serve a wide range of households in the United States. They are not-for profit financial cooperatives and seek to balance growth and their mission of supporting and serving local and regional communities. Many of these communities have low levels of service and are more susceptible to being severely affected by the effects of climate change.
The report proposes seven actions for credit unions to address climate risks. These include:
- Publicly admit that climate change poses a threat to their balance sheets and to their members.
- Conduct research and inform themselves, their members and other stakeholders regarding climate-related risks, opportunities, and challenges facing their organizations.
- Start collecting data that is climate-relevant for their organization.
- Adopt the recommendations made by the Task Force on Climate-Related Financial Disclosures, Financial Stability Board (TCFD).
- Conduct climate scenario analysis of their loan portfolios.
- Invest in your organization while building partnerships and system-wide resources.
- Encourage proactive communication between credit unions, national trade organizations, state leagues and policymakers, as well as state and federal regulators.
On Thursday, July 28, 2008, 12:00 p.m. ETCeres and Filene Research Institute will host a virtual panelCredit union leaders to discuss the findings and recommendations. RegisterIs open.
Media Contact: Barbara Grady, [email protected]
Similar Link: Original publication
SOURCE Ceres
