FEDERALhearing transcript

Senate Budget Committee Hearing on Climate-Related Economic Risks

Original title: CLIMATE-RELATED ECONOMIC RISKS AND THEIR COSTS TO THE FEDERAL BUDGET AND GLOBAL ECONOMY

January 1, 2023

climate change federal budget economic risk financial regulation market stability

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The Frame

What this does

This hearing establishes the committee's focus on how climate-related economic shifts may impact federal spending, insurance markets, and long-term fiscal stability.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Federal Budget Committee

The committee is setting its legislative agenda and research focus regarding climate-related fiscal policy.

Financial Institutions

These entities are subject to ongoing discussions regarding climate-related market risk assessments and regulatory oversight.

What changed

Last recorded activity January 1, 2023.

What's next

Next step not available in the current record.

Summary

The Senate Budget Committee held a hearing on February 15, 2023, to examine the potential costs and economic risks that climate change poses to the federal budget and the global economy. The session featured testimony from economic experts and former central bank officials regarding how climate-related factors impact financial markets and government fiscal health.

Key Facts

The hearing took place on February 15, 2023, in the Dirksen Senate Office Building.
The committee focused on the economic risks and costs of climate change to the federal budget.
Chairman Whitehouse distributed an updated binder of economic warnings regarding climate change to committee members.
Witnesses included Dr. Mark Carney, Dr. Robert Litterman, and Dr. Douglas Holtz-Eakin.
The committee plans a series of hearings regarding climate-related economic risks.
The hearing included testimony from experts representing central banking, investment management, and economic policy research.

Frequently Asked Questions

What was the purpose of this hearing?

The hearing was held to discuss the economic risks and potential costs that climate change poses to the federal budget and the global economy.

Who testified at the hearing?

The witnesses were Dr. Mark Carney (former Governor of the Banks of England and Canada), Dr. Robert Litterman (Founding Partner at Kepos Capital), and Dr. Douglas Holtz-Eakin (President of the American Action Forum).

Why It Matters

This hearing establishes the committee's focus on how climate-related economic shifts may impact federal spending, insurance markets, and long-term fiscal stability.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on Climate Fiscal Risk

The committee is explicitly framing climate change as a core budgetary and fiscal risk rather than solely an environmental issue.

Senate Budget Committee

Connected Entities

personMark Carney“Former Governor of the Banks of England and Canada”Map →

personCharles E. Grassley“Ranking Member of the Senate Budget Committee”Map →

personRobert Litterman“Founding Partner, Kepos Capital; Chair, Climate-Related Market Risk Subcommittee”Map →

personSheldon Whitehouse“Chairman of the Senate Budget Committee”Map →

organizationSenate Budget Committee“The committee conducting the hearing”Map →

personDouglas Holtz-Eakin“President, American Action Forum”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz25
Current news / social attention level

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