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Powell Says Fed Moving Carefully, Thoughtfully on Climate Risk

FED

Q: Re Fed joining global Green network (NGFS).

  • A: Fed's moving carefully and thoughtfully with great transparency on climate change... It's relevant to our existing mandates under law. Expect that financial institutions will be resilient against risks including climate risk.
  • Important we discuss best practices with agencies around the world. Have been reluctant to move into the area of credit allocation in this area, our place is to focus on supervision and financial conditions.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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