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The climate crisis is a defining issue of our lifetime, and Black and brown communities bear the brunt of its impact. We need drastic action. Here are some executive actions the Biden Administration can take once in office. #ClimateCrisis 1/7
Through existing Dodd-Frank provisions, the Biden Administration can require financial institutions to internalize the financial risks associated with investments that drive the climate crisis. In an @GDI report, @steelewheelz lays out how. 2/7 https://greatdemocracyinitiative.org/document/dodd-frank-and-the-climate-crisis/
He explains: “Regulating the financial risks of the climate crisis will ensure that the true costs are paid by the institutions that cause climate change and will protect the communities that are affected by it.” 3/7
The climate crisis is also a looming threat to the residential real estate market. Without substantial changes, we face another housing crash that will disproportionately impact Black and brown homeowners. 4/7 https://www.nytimes.com/interactive/2020/06/29/climate/hidden-flood-risk-maps.html
GDI author @owenslindsay1 maps out executive actions that can stem a climate induced housing crash in this #mustread 5/7 report. https://greatdemocracyinitiative.org/document/soaked-a-policy-agenda-to-prepare-for-a-climate-triggered-housing-crash/
Changes to government accounting should be made to ensure that climate change and racial impacts are accounted for in regulatory review. In this GDI report, @toddntucker and @rdnayak proposed key changes to OIRA that can do just this. 6/7 https://greatdemocracyinitiative.org/document/oira-2-0/
Key proposals include making changes to the ground rules for regulatory accounting—the so-called “discount rate” and “value of a statistical life” and new tools to measure how policies will impact marginalized communities. 7/7
