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The Federal Reserve said it had formally joined an international network of central banks in an initiative aimed at better understanding the risks posed to economies by climate change.
The Fed’s Board of Governors voted 5-0 to accept membership in the Network for Greening the Financial System, which includes 75 central banks, the Fed said in a statement Tuesday.
“As we develop our understanding of how best to assess the impact of climate change on the financial system, we look forward to continuing and deepening our discussions with our NGFS colleagues from around the world,” Fed Chair Jerome Powell said in the statement.
Read More: Fed Set to Join NGFS, the Climate-Change Club for Central Bankshttps://www.federalreserve.gov/newsevents/pressreleases/bcreg20201215a.htm
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An excerpt from https://www.bloomberg.com/news/articles/2020-11-11/fed-set-to-join-ngfs-the-climate-change-club-for-central-banks
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