Fed examines climate risks in stability report for first time
It is “vitally important” that climate risks are “assessed and addressed”, says Lael Brainard
The Federal Reserve has acknowledged the potentially severe impact of climate change on the financial sector in one of its flagship publications for the first time.
The Fed has been one of the few major central banks to largely avoid commenting on climate risks, and it has not yet joined the Network for Greening the Financial System (NGFS).
But on November 9 it included analysis on climate risks in its financial stability report for the first time.
Governor Lael Brainard released a statement
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