The Federal Reserve exits climate-focused NGFS, citing need to align with legal responsibilities.

The Federal Reserve has withdrawn from the Network for Greening the Financial System (NGFS), citing the group's expanded focus now includes issues outside the Fed's statutory mandate. The NGFS is a network of central banks addressing climate risks in financial systems. The Fed's exit does not mean a disengagement from environmental issues but reflects a need to align with its legal responsibilities. Established in 2017, the NGFS aims to integrate climate risks into financial oversight.

2 months ago
50 Articles