Executive Order 14030: Climate-Related Financial Risk
President: Joseph R. Biden Jr.
Directed government-wide assessment and disclosure of climate-related financial risk, including risks to financial stability, pensions, federal lending, procurement and the budget.
Status: Revoked. Is Executive Order 14030 still in effect? No. Executive Order 14148 revoked Executive Order 14030 on January 20, 2025. Reports and rules issued under the earlier policy have their own legal histories; revoking the order does not by itself repeal every implementing regulation.
What does Executive Order 14030 do?
Biden directed the government to examine financial exposure to climate change, distinguishing physical risks such as damaged property from transition risks associated with changing energy systems and markets. The policy connected financial stability, retirement savings, federal lending, procurement and the long-term budget. It called for clearer risk measurement and disclosure, but did not itself impose a single private-sector reporting rule or require retirement savers to buy particular investments. Signed text.
The White House economic and climate advisers were to prepare a government-wide strategy. Treasury, as chair of the Financial Stability Oversight Council, was instructed to engage member agencies on risk assessment and a report to the president. Labor was told to examine legally available measures to protect pensions and consider revising two retirement-investment and proxy-voting rules. Other assignments covered insurance supervision, data, supplier emissions and federal loan underwriting. Signed text.
A separate operative change reinstated EO 13690 and its Federal Flood Risk Management Standard, which had been revoked in 2017. That matters because the order was more than a request for studies: it restored a particular flood-risk policy while directing possible financial and procurement rulemaking. Each regulatory proposal nevertheless still needed its own statutory basis and administrative process. Signed text.
Before and after
Before the order
Before this order, agencies already had responsibilities for financial supervision, pension fiduciaries, lending and federal expenditure. The 2020 Labor investment and proxy rules and the 2017 revocation of the flood standard were specific policies the Biden order sought to revisit. The new cross-government strategy was intended to connect risk information across these otherwise separate functions. Signed text.
After the order
FSOC issued its climate-related financial-risk report on October 21, 2021. The report identified climate change as an emerging threat to financial stability and set out recommendations; recommendations were not automatically binding regulations. Trump’s January 20, 2025 rescission removed EO 14030. Existing pension, floodplain or procurement measures must therefore be assessed against their own later amendments, revocations and court proceedings rather than presumed to vanish from this one change. Official follow-up record 1. Official follow-up record 2.
Who had to do what
| Agency / office | Action | Timing / position |
|---|---|---|
| National Economic Council Director and National Climate Advisor | Develop the government-wide financial-risk strategy, coordinated with Treasury and OMB. | Within 120 days of signing. |
| Treasury Secretary / FSOC | Engage council members on assessment, information sharing, policy integration and climate-risk reporting. | Report within 180 days; include climate-risk assessment in annual reports to Congress. |
| Federal Insurance Office | Assess climate-related insurance supervisory gaps and potential disruption of coverage, consulting states. | No separate fixed deadline. |
| Office of Financial Research | Assist Treasury and FSOC with data collection and research on financial-stability risks. | As needed for the assessment. |
| Labor Secretary | Identify pension-protection actions, consider revising the 2020 investment and proxy rules, assess the Thrift Investment Board and report. | Consider proposed rule by September 2021; presidential report within 180 days. |
| OMB Director and National Economic Council Director | Develop federal financial-management recommendations; OMB also quantify budget exposure and publish assessments with the Council of Economic Advisers. | Budget assessment annually; recommendations have no separate fixed deadline. |
| Federal Acquisition Regulatory Council | Consider supplier disclosure, reduction targets and climate-risk procurement amendments, consulting CEQ and agencies. | Through applicable rulemaking; no fixed deadline. |
| Agriculture Secretary | Consider climate-risk integration in federal loan underwriting, terms, assets and servicing. | No separate fixed deadline. |
| Housing and Urban Development Secretary | Consider climate-risk integration in housing lending and asset management. | No separate fixed deadline. |
| Veterans Affairs Secretary | Consider climate-risk integration in VA lending, underwriting and servicing. | No separate fixed deadline. |
| Agency heads / Federal Chief Sustainability Officer | Submit climate-risk procurement actions through climate plans; OMB and the sustainability officer provide voluntary-standards guidance. | Through the prescribed climate-action planning process. |
| Council of Economic Advisers Chair | Help OMB develop budget climate-risk methods and publish the annual assessment, with the White House advisers. | Annual assessment in the President’s Budget. |
What happened next
Biden signed EO 14030. Official source
FSOC issued the financial-risk report. Official source
EO 14148 revoked EO 14030. Official source
Legal and source detail
How it works legally
Regulators were confined to their organic statutes, and retirement actions were bounded by ERISA and the Federal Employees’ Retirement System Act. The instruction to consider a rule was distinct from promulgating one. Procurement amendments required FAR procedures, and federal lending departments retained their statutory limits. Appropriations and existing legal powers controlled implementation; the order created no enforceable right to a preferred climate investment. Signed text.
Sources by type
If a source is unavailable, first check the cited publisher or another official repository. The cited publisher remains the authority.
Primary and official sources
Orders, laws, court records and official implementation material.
How we checked this
Last checked against the sources above on September 9, 2026. How we research →