Wave of departures: US Federal Reserve a • Table.Briefings

That’s it for now: Jerome Powell, head of the US Federal Reserve, announced his withdrawal from the central bank’s climate initiative on Friday.

Before Donald Trump takes office as US President, banks and asset managers are pulling out of climate initiatives in droves. The financial world in Canada and Europe is also unsettled.

The US Federal Reserve (Fed) is withdrawing from the global central bank climate initiative NGFS shortly before Donald Trump takes office. The reason is that its increasingly expanded remit lies outside the Fed’s legal mandate, the central bank announced on Friday.

Wave of departures: US Federal Reserve and top Canadian banks leave climate alliances

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