"WASHINGTON -President Joe Biden on Thursday directed federal agencies to assess and mitigate the increasing and serious risks that climate change poses to individuals, businesses, the federal government and the U.S. financial system, the White House said.

Biden issued an executive order requiring development of a comprehensive government-wide climate-risk strategy within 120 days, as well as an annual assessment of climate-related fiscal risks as part of the U.S. budget.

It aims to harness the purchasing power of the federal government, which spent more than $680 billion on goods and services last year, by moving toward requirements for major suppliers to disclose their greenhouse gas emissions and climate-related risks, officials said."

Andrea Shalal and Jeff Mason report for Reuters May 20, 2021. [2]