On March 31, 2025, the OCC withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions. In a statement, Acting Comptroller of the Currency Rodney E. Hood said “the principles providing guidance to banks for climate-related financial risk are overly burdensome and duplicative.”
In addition, Hood said that the existing guidance for banks to maintain a sound risk management framework applies to all activities conducted by supervised institutions, including potential exposures to severe weather events or natural disasters. The OCC reminds banks to maintain effective risk management processes commensurate with their size, complexity and risk of their activities.
Read the OCC’s announcement here.