SAN FRANCISCO/WASHINGTON (Reuters) - U.S. Senator
Elizabeth Warren, a contender for the
Democratic Party's presidential nomination, is asking the biggest U.S. banks for details on their assessments of and preparations for risks related to global warming.
"To protect themselves and the
economy from climate-driven catastrophes, large financial institutions must act quickly to address risks," Warren, a frequent critic of big banks, said in letters sent on Tuesday to top executives at Bank of America, Bank of
New York Mellon, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, State Street and Wells Fargo.
"I write to ask for more information about the risks caused by the climate crisis on the financial industry and your institution's practices, including what steps, if any, your institution is taking to adapt to mitigate these risks," she said in the letters, provided to Reuters.