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Mic
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Environment
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Federal Reserve Exits International Climate Change Initiative

US Federal Reserve Climate Change
Erik McGregor/LightRocket/Getty Images

The U.S. Federal Reserve made headlines yesterday by announcing its withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). This international coalition, established in 2017, was designed to explore and address climate-related financial risks. The decision comes just days before the inauguration of Republican President-elect Donald Trump, who has been hostile towards climate change initiatives.

Background on the NGFS

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