29 Dec 2021
Senator Warren Lambastes Wall Street on Climate Change
The Index Today
Senator Elizabeth Warren on Tuesday came down heavily on Wall Street, castigating the U.S. financial sector for its major role in exacerbating climate change. Warren even called on the country’s lawmakers to clamp down on the industry.
This comes after a Sierra Club and the Center for American Progress study found that the country’s top 10 major investment companies and eight major banks had joined forces in a move that would result in a total of 2 billion tons of carbon dioxide emissions.
Warren tweeted, “The volume of greenhouse gas emitted by the financial-services industry is outrageous.” She further emphasized that policymakers “need to crack down” on these companies at the earliest.
The Securities and Exchange Commission under the Biden administration is working on developing provisions and policies that will mandate the disclosure of potential climate hazards caused by companies.
The study propounded that the activities of financial corporations if left unchecked could have disastrous consequences for the climate which could result in hurricanes, floods, wildfires, and other natural calamities that could spell doom for the planet.