Federal Reserve and U.S. Banks Withdraw from Climate Initiatives

Douglas McIntyre, Editor-in-Chief at Climate Crisis, reports that the Federal Reserve has exited a climate alliance following similar moves by major U.S. banks, including Goldman Sachs, Morgan Stanley, and Bank of America. This marks a significant blow to the U.N.-backed Net Zero Banking Alliance, which aimed to address climate change risks within the financial industry. The withdrawal of U.S. banks and regulators leaves the initiative with diminished global influence.