US Treasury Department withdraws from global regulatory climate change group

U.S. Treasury Withdraws from Global Climate Risk Group

WASHINGTON (Reuters) – The U.S. Treasury Department announced on Thursday its decision to withdraw from a global body comprising central banks and regulators aimed at addressing climate risks in the financial system.

The U.S. Department of the Treasury’s (Treasury) Federal Insurance Office (FIO) officially notified the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) regarding its withdrawal of membership, as stated in their announcement.