3 sources·Business

Federal Reserve Withdraws from Global Climate Coalition, Citing Mandate Issues

The Federal Reserve has exited the NGFS, reflecting a policy shift as it prioritizes its statutory obligations over climate-focused finance regulation.

The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).
Reliable
The underlying sources consistently report facts with minimal bias, demonstrating high-quality journalism and accuracy.
Balanced
The underlying sources are either a balanced mix of left and right or primarily centrist.
  1. Federal Reserve exits global climate change regulation group

    The Federal Reserve's departure from the climate regulation group reflects a crucial acknowledgement of the limits of its statutory authority, reinforcing the notion that climate policy should primarily be the responsibility of Congress rather than the central bank.

    Federal Reserve exits global climate change regulation group

    Fox BusinessFox Business·2M
    Mostly Reliable
    This source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.
    ·
    Leans Right
    This outlet slightly leans right.
  2. Fed pulls out of global climate change group

    The Federal Reserve's decision to withdraw from a climate-focused group signals a significant shift in its priorities, reflecting the changing political landscape as it retreats from its previously stated commitment to addressing climate risks.

    Fed pulls out of global climate change group

    AxiosAxios·2M
    Reliable
    This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
    ·
    Center
    This outlet is balanced or reflects centrist views.
  3. Federal Reserve says it will leave climate change organization

    The Federal Reserve's decision to withdraw from the international central bank network aimed at addressing climate change reflects a troubling trend of sidestepping critical issues that are increasingly relevant to our financial system.

    Federal Reserve says it will leave climate change organization

    Associated PressAssociated Press·3M
    Reliable
    This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
    ·
    Center
    This outlet is balanced or reflects centrist views.
  1. Fox Business
  2. Axios
  3. Associated Press
Updated: Jan 17th, 2025, 7:57 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

The Federal Reserve announced it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System. This decision follows criticism from Congress and signals a shift in the Fed's strategy regarding climate-related financial regulation. The Fed cited that the NGFS broadened its scope beyond the Board’s legal mandate. This exit aligns with Fed Chair Jerome Powell's previous statements emphasizing that climate change policy should remain under Congressional purview. The timing coincides with the transition to President-elect Trump's administration who has been critical of climate policies.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

No center-leaning sources available for this story.