; and (H) any entity that has been identified as systemically important by the Financial Stability Oversight Council. (4) Environmentally sustainable investment The term environmentally sustainable investment means investments, loans, and other financial products or services that support climate mitigation and adaptation efforts, enterprises, and projects whose impacts have been evaluated to equitably and sustainably advance social and environmental welfare. (b) Application of entire community For purposes of this Act, with respect to a covered financial institution whose business predominately consists of serving the needs of military personnel who are not located within a defined geographic area, such covered financial institution may define the term entire community to include the entire deposit customer base without regard to geographic proximity to the covered financial institution. 4. Assessment of covered financial institutions (a) In general Except as provided in section 6, not less than once every 24 months an appropriate financial regulator shall assess the record of a covered financial institution of meeting the environmentally sustainable investment needs of the entire community of such institution, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution. (b) Requirements for covered financial institutions (1) Rating (A) In general A covered financial institution that received a rating described in subparagraph (C), (D), or (E) of section 5(b)(2) shall, within the 12-month period beginning on the date of receipt of such rating, take such action as may be necessary in order for such institution to achieve a rating of satisfactory record of meeting community environmentally sustainable investment needs . (B) Penalty A covered financial institution that fails to meet the requirements of subparagraph (A) shall be subject to such penalties as determined appropriate by the appropriate financial regulator of such institution. (2) Approval of requests