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Will the Federal Reserve rejoin the NGFS climate coalition by end of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the Federal Reserve or NGFS
Story
Federal Reserve Withdraws From NGFS Climate Coalition Three Days Before Trump's Inauguration
Jan 17, 2025, 07:20 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 addressing climate risk in the financial sector. The decision to leave the NGFS was made because the group's scope has broadened beyond the Fed's statutory mandate, according to a statement from the central bank. Five governors voted in favor of leaving, with Michael Barr and Adriana Kugler dissenting. The move comes three days before the inauguration of President-elect Donald Trump, who has previously criticized government efforts to prescribe climate change policies. The Fed joined the NGFS in 2020, and its exit reflects a stance that the central bank should not be involved in setting climate change policy, a responsibility it believes lies with Congress.
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No significant change in climate policy stance • 25%
Strengthen internal climate policies independently • 25%
Join a different climate-focused coalition • 25%
Rejoin NGFS • 25%
Yes • 50%
No • 50%
Less Aggressive • 25%
Other • 25%
No Change • 25%
More Aggressive • 25%
No new climate-related policies • 25%
Other climate-related initiative • 25%
Rejoin NGFS • 25%
Introduce new climate risk regulations • 25%
European Central Bank • 25%
Bank of England • 25%
Bank of Japan • 25%
Other • 25%
