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US Federal Reserve joins global club of peers in climate change fight

The Fed's membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) comes after a yearlong collaboration, the Fed said

Climate Change, pollution, emission
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On Tuesday, Senator Brian Schatz of Hawaii, a Democrat, said he expects "further concrete steps" from the Fed on climate change, including using tools like stress testing

Reuters
The US Federal Reserve said on Tuesday it has joined an international group of central banks focused on climate change risk, a signal that the Fed could move to incorporate the impacts of global warming into its regulatory writ.
 
The Fed's membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) comes after a yearlong collaboration, the Fed said. It had been the only major global central bank besides the Reserve Bank of India that was not a member of the NGFS.
 
"As we develop our understanding of how best to assess the impact of

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First Published: Dec 16 2020 | 2:52 AM IST

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