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Another major central bank to leave NGFS by end of 2025?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from central banks or the NGFS
Story
Federal Reserve Withdraws from NGFS Climate Coalition, Five Governors Vote in Favor, Barr and Kugler Dissent
Jan 17, 2025, 06:34 PM
The Federal Reserve has announced its withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), a global coalition focused on climate and transition risks for the financial sector. The decision was made with five governors voting in favor of leaving, while Michael Barr and Adriana Kugler dissented. The Fed cited that the NGFS's broadened scope now falls outside its statutory mandate. The NGFS, launched in 2017, has been a platform for central banks to study climate risk.
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Bank of Japan • 25%
European Central Bank • 25%
Other • 25%
Bank of England • 25%
European Central Bank • 25%
Other • 25%
Bank of England • 25%
Bank of Japan • 25%
Statutory mandate concerns • 25%
Other • 25%
Political pressure • 25%
Operational scope differences • 25%
Other • 25%
Scope Beyond Mandate • 25%
Political Pressure • 25%
Internal Disagreements • 25%
No significant change in climate policy stance • 25%
Join a different climate-focused coalition • 25%
Rejoin NGFS • 25%
Strengthen internal climate policies independently • 25%
Other • 25%
Resource allocation • 25%
Broadening scope of NGFS • 25%
Political pressure • 25%
Mixed reactions • 25%
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Predominantly positive • 25%
Citigroup • 25%
JPMorgan Chase • 25%
Bank of America • 25%
Other • 25%
Federal Reserve • 25%
Bank of England • 25%
Bank of Japan • 25%
European Central Bank • 25%