Washington, DC – FIA President and CEO Walt Lukken today made the following statement on the release of the pan trade financial industry associations statement of principles Financing a U.S. Transition to a Sustainable Low-Carbon Economy:
“Climate change poses real risks to financial stability and our global economy. These risks include direct financial risks from extreme weather, as well as the transition risks associated with fundamental changes in how the world does business. FIA endorses today’s principles and commits to working with companies, other trade organizations and governments to address the pressing need of climate change.
Fundamentally, FIA firmly believes that markets must be part of the solution to addressing global climate change. Exchange-traded derivatives markets specifically will play the critical role of pricing risk and providing innovative products to help manage this risk. We believe these principles, as well as the ongoing private sector-led initiative to scale efficient and functioning voluntary carbon markets, will help advance the goals of the Paris Climate Agreement.”