Photo: The Canadian Press
Canada’s environment commissioner says action by the federal banking regulator on climate change is overdue and now urgent.
Commissioner Jerry DeMarco said in an audit released Thursday that it’s encouraging that the Office of the Superintendent of Financial Institutions (OFSI) both recognizes the risks of climate change to banks and the financial system, and is taking action on the challenge.
But he notes that since climate change has only recently become a priority of the regulator, the full implementation