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Senators Warn: Banks' Climate Risk Reversal Threatens $1.4 Trillion

5/22/2025

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Summary

Story summary

Senators Sheldon Whitehouse and Elizabeth Warren are sounding the alarm as major U.S. banks backtrack on climate risk management, succumbing to pressure from Republicans and the fossil fuel sector. This dangerous shift could jeopardize economic stability, risking a staggering $1.4 trillion in real estate value and paving the way for a financial crisis. The senators are demanding answers by June 2, 2025.

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Story summary

Senators Sheldon Whitehouse and Elizabeth Warren are sounding the alarm as major U.S. banks backtrack on climate risk management, succumbing to pressure from Republicans and the fossil fuel sector. This dangerous shift could jeopardize economic stability, risking a staggering $1.4 trillion in real estate value and paving the way for a financial crisis. The senators are demanding answers by June 2, 2025.