The Treasury Department’s Office of the Comptroller of the Currency announced on Monday that Yue Chen would serve as its chief climate risk officer.

“She will be able to tell banks that certain investments will be discouraged because they might pose a climate risk,” Furchtgott-Roth explained. “Say, for example, a bank wanted to lend money for a coal mine — she has the ability to advise OCC to downgrade that bank and say, ‘This is a risky investment.’ The OCC does have power over risky investments, but in the past climate change has not been looked on as a risk.”

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