Pioneering Climate Risk Management at the OCC:

An Interview with Acting Comptroller of the Currency

In December 2021, the Office of the Comptroller of the Currency became the first U.S. regulator to issue draft expectations for the management of climate risk by financial institutions. Acting Comptroller of the Currency Michael J. Hsu called the move “an important, concrete step towards ensuring the safety and soundness of large banks in the face of increasing risks from climate change.” More recently, in remarks …