Statement by Michael Panfil, Senior Director and Lead Climate Risk Strategy Counsel at EDF – 10 November 2022
November 10, 2022
Matthew Tresaugue, mtresaugue@edf.org, 713-392-7888
“The impacts of climate change are large and growing. Financial risk across the United States. The standard proposed today is Federal Supplier Climate Risk and Resilience Regulation, Funding from the Federal Acquisition Regulatory Commission will help the US federal government, the world’s largest buyer, make informed purchasing decisions that consider climate-related financial risks. Doing so is an important step in safeguarding the health of the American economy and ensuring the resilience of critical government functions.
“If the proposed standard is finalized, we will ask our major federal suppliers to publicly disclose their greenhouse gas emissions and climate-related financial risks and set targets to reduce their emissions. This information is highly sensitive as extreme weather conditions amplified by climate change such as droughts, storms and wildfires increase financial risks Important, and the US government and its supply chains are not vulnerable.
“As noted by the U.S. Government Accountability Office, consideration of climate-related financial risks in government procurement is essential and overdue. We urge an expeditious finalization of this proposed standard. “
- Michael Panfil Senior Director and Lead Counsel for Climate Risks and Clean Power at EDF
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