Your response must include why the initial post caught your attention and your analysis of the potential ethical implications/any additional questions you may have. You should respond with at least a short, well-thought-out paragraph.

• Company Name(s):the Fed, Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo
• Topic: New Big banks face new climate resiliency tests (Dealbook: Sept 30th, 2022)
• Industry:Banking
• Why Caught my Attention:The recent occurrence of Hurricane Ian and its destructive aftermath is what initially drew my attention to this story. The Fed is expecting the largest banks to participate in a pilot program to assess the risks that climate change poses to the industry and their resiliency capabilities.
• Potential Ethical Implications:There are potential ethical implications within this situation. Banks have many risk exposures and could be required to assess their risk from all reasonable areas, including weather events. Environmentalists say that a climate assessment is "long overdue," and the Bank Policy Institute thinks that it is an "overstep." As seen with the recent weather in Florida, the banks and consequently, their customers and investors, have the potential to lose substantial amounts of money and/or assets. Politicians can debate whether climate change is real, but semantics aside, increasing numbers of hurricanes and wildfires are physical risks that should not be ignored and are something that the industry must be prepared for.
• Questions: Should politics determine risk management decisions?