Market
Federal Reserve to face legal challenges due to NGFS withdrawal by end of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Legal filings or court decisions related to the Federal Reserve's withdrawal from 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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No • 50%
Yes • 50%
Predominantly negative • 25%
Largely indifferent • 25%
Mixed reactions • 25%
Predominantly positive • 25%
Political Pressure • 25%
Other • 25%
Internal Disagreements • 25%
Scope Beyond Mandate • 25%
Political pressure • 25%
Broadening scope of NGFS • 25%
Other • 25%
Resource allocation • 25%
Financial constraints • 25%
Other • 25%
Scope beyond mandate • 25%
Political pressure • 25%
Join a different climate-focused coalition • 25%
Rejoin NGFS • 25%
No significant change in climate policy stance • 25%
Strengthen internal climate policies independently • 25%
No • 50%
Yes • 50%
Bank of England • 25%
Other • 25%
Bank of Japan • 25%
European Central Bank • 25%