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Next central bank to withdraw from NGFS by end of 2025?
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European Central Bank • 25%
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Official announcements from central banks or the NGFS
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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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Other • 25%
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Broadening scope of NGFS • 25%
Strengthen internal climate policies independently • 25%
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