At House Hearing, EDF Will Urge Finance Sector to Address Climate Risks to U.S. Agriculture

(WASHINGTON, DC — Oct. 1, 2020) The House Select Committee on the Climate Crisis will hold a hearing today titled, “Creating a Climate Resilient America: Strengthening the U.S. Financial System and Expanding Economic Opportunity.”

Environmental Defense Fund director of working lands, Maggie Monast, will testify on the financial risks that climate change poses to America’s agriculture sector, and share findings and recommendations from her report, Financing Resilient Agriculture: How Agricultural Lenders Can Reduce Climate Risk and Help Farmers Build Resilience.

“Farmers are on the front lines of climate change. In 2020 alone, we have seen ample evidence of these impacts, including destructive storms in the Midwest, hurricanes along our coasts, and wildfires and smoke in the West.

“Given the increasing severity and frequency of weather events projected to continue affecting farmers across the country, a major shift in the agricultural finance sector’s approach to climate risk and resilience is long overdue. I encourage policymakers to act quickly to help American farmers and the institutions that finance them secure a more productive and profitable future.”

• Maggie Monast, Director, Working Lands