Fed leaves central bank climate alliance
Departure from NGFS came ahead of US withdrawal from Paris climate agreement
The US Federal Reserve announced on January 17 that it had withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS).
In its press release, the Fed said the NGFS’s work had “increasingly broadened in scope” and now covered a range of issues that lay beyond the central bank’s statutory mandate.
Founded in 2017, the NGFS’s membership has grown to 143. In 2020, the Fed became the 96th institution to join.
In its statement on the Fed’s departure the NGFS said
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