The U.S. Office of the Comptroller of the Currency (OCC) has appointed Dr. Yue (Nina) Chen as its first chief climate risk officer to manage climate-related financial risks.
OCC is the federal organization supervising the biggest banks in the country.
OCC believes that climate-related financial risks can impact the safety and soundness of banks through physical and transition risks. This could also threaten the economic sector and access to financial services. Therefore, hiring an officer to review the matter is critical to minimize the said risks.
