US President Joe Bayden protects the economy from risks associated with climate change. The government issued a report on the protection of financial, insurance and housing markets, as well as savings of citizens, reports Associated Press.
According to the report, the government will revise the process of mortgage, disclosure in the stock market, pension plans, federal procurement and state budgeting, taking into account the risks created by climate change. “If 2021 and showed us something that this is that climate change presents a constant urgent and systemic risk for our economy, as well as for life and livelihoods of ordinary Americans, and we must act now,” said the National Adviser White climate house Gina McCarthy.
According to the plan, the American departments must be based on the climate agenda. For example, the US Financial Stability Supervision will develop tools for identifying and reducing risks for the climate-related economy. The Federal Emergency Management Agency will update the standards of the National Flood Insurance Program. The federal lending and mortgage agencies examine the impact of climate change to the housing market, and the Department of Housing and Urban Development intends to provide customers with houses about the risks of floods and other issues related to the climate.
In September, Biden rated the damage from natural cataclysms. According to him, in 2021 it will exceed 100 billion dollars. Climate change issues are part of Byyden’s political agenda, since in 2021 the United States has repeatedly faced natural disasters. In February 2021, in several states, abnormal weather was recorded in several states: frost and strong winds. Because of the snowstorm, more than three million Americans remained without electricity. Mass media in power supply occurred in Texas. From July to August 2021, the largest forest fire was happening in the United States in the history of California, who did not stop almost a month. The flame covered more than 195 thousand hectares. In August, Hurricane “Ida” left more than a million residents of Louisiana without light. Insurance companies considered that the total damage from “Ida” in the United States amounted to 18 billion dollars.