Copenhagen Consensus President and environmentalist Bjorn Lomborg discusses California leaders who blame climate change for wildfires, the confirmation hearing for US Treasury Secretary Scott Bessant and climate policy.
particle for direct object Federal Reserve It announced on Friday that it was withdrawing from the global climate change regulatory body for overstepping the bounds of the Federal Reserve's statutory authority.
The Federal Reserve withdrew from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), which was created in 2017 to help advance green financial and climate policy. The group makes policy recommendations for central banks and financial regulators to play a role in combating Climate change By incorporating climate risks into their regulatory work.
In 2020, the Federal Reserve joined the NGFS as a permanent member, and the organization has more than 100 central banks and financial regulators as members.
“While the Board has appreciated the engagement with the NGFS and its members, the scope of the NGFS' work has increasingly expanded to cover a wider range of issues that are outside the Board's statutory authority,” the board said in a statement. to give
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The Federal Reserve announced its departure from the network of central banks and supervisors to green the financial system, citing the group's growing regulatory focus. (iStock)
In recent years, the Federal Reserve has taken steps to integrate climate change into its work, using preliminary analyzes and reports.
However, Federal Reserve Chairman Jerome Powell He has repeatedly emphasized that the Federal Reserve is not responsible for setting climate change policy and that these issues are left to Congress.
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Federal Reserve Chairman Jerome Powell has said that Congress, not the Fed, is responsible for climate regulation. (Alex Wong/Getty Images/Getty Images)
Federal Reserve announcement before the opening President-elect Trump For his second term in the White House, which is scheduled to begin on Monday.
Trump has criticized the administration's efforts to pursue climate change policies.
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Reuters contributed to this report.