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On June 3, APGA submitted comments to the Federal Deposit Insurance Corporation (FDIC) in response to its request for comment pertaining to its draft “Statement of Principles for Climate-Related Financial Risk Management for Large Financial Institutions.”

Through the brief comments, APGA notes its membership’s support for reduction of greenhouse gas emissions through practices such as implementing new leak detection technology and repairing aging infrastructure. APGA cautions the FDIC from developing its climate-related financial risk management principles in a way that would raise costs for community-owned utilities (and ultimately their customers) who might borrow from these large financial institutions to fund these emission-reducing projects. The comment letter also notes the importance of public gas utilities to the communities they serve and asks the FDIC to not hinder their ability to continue leveraging the existing natural gas distribution workforce and infrastructure to meet climate goals.

A copy of the comments is available here.

For questions on this article, please contact Renée Lani of APGA staff by phone at 202-464-0836 or by email at rlani@apga.org.