Prudence demands.

U.S. banking regulators adopted a new rule requiring banks to help low-income communities adapt to climate-fueled impacts and issued separate non-binding guidance on climate risk, E&E News reports.

The decision to rely on guidance, and not a binding rule, for the climate risk portion comes after years of study by banking regulators, including the Federal Reserve.

Amena H. Saiyid

Washington D.C. Correspondent