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Federal Reserve says it will leave climate change organization

  • The Federal Reserve is withdrawing from the network of central banks and supervisors for greening the financial system, as announced on January 17, 2025.
  • The Federal Reserve entered the NGFS in December 2020 to exchange ideas on environmental and climate risk management policies.
  • The Federal Reserve stated it is leaving because the NGFS's scope has broadened beyond its statutory mandate.
  • Fed Chair Jerome Powell emphasized that climate change policies are the responsibility of elected officials and not the Federal Reserve.
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  • 60% of the sources lean Left
60% Left
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