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New Release: Ranking Members Waxman and Rush Call for Hearing on S&P Report on Climate Change

Federal Information & News Dispatch, Inc.

Committee on Energy and Commerce

Rep. Henry A. Waxman, Ranking Member

June 3, 2014

Karen Lightfoot (Waxman): (202) 225-5735

Debra Johnson (Rush): (202) 225-4372

Ranking Members Waxman and Rush Call for Hearing on S&P Report on Climate Change

WASHINGTON, DC- Today Ranking Member Henry A. Waxman and Energy and Power Subcommittee Ranking Member Bobby L. Rush sent a letter to Chairmen Fred Upton and Ed Whitfield to request a hearing on a recent report from Standard and Poor's Rating Services warning about the climate impacts on sovereign credit ratings on countries around the world. The report finds that the poorest countries will be disproportionately impacted.

In the letter the members wrote, "The S&P report makes it clear that the costs of inaction on climate change are enormous. The impacts will be large enough to adversely affect the credit ratings of entire countries. We urge you to hold a hearing with Standard and Poor's Rating Services to examine these impacts."

The full text of the letter is available below and online here.

June 3, 2014

The Honorable Fred Upton

Chairman

Committee on Energy and Commerce

2125 Rayburn House Office Building

Washington, D.C. 20515

The Honorable Ed Whitfield

Chairman

Subcommittee on Energy and Power

Committee on Energy and Commerce

2125 Rayburn House Office Building

Washington, D.C., 20515

For Clients with Prostate Cancer

Dear Chairman Upton and Chairman Whitfield:

Standard and Poor's Rating Services (S&P) recently released a report warning that climate change will put downward pressure on the sovereign credit ratings of countries around the world. We are writing to request a hearing on this eye-opening report.

In its report, S&P explains how climate impacts, such as the increasing frequency and destruction of severe weather events, could affect the credit ratings of sovereign states. The report points to data from reinsurer Munich Re showing that "weather-related loss-events have risen in all continents, most significantly in Asia and North America, where they increased more than fourfold" since the early 1980s.[1]

Copyright:(c) 2010 Federal Information & News Dispatch, Inc.
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