The US central bank (FED) has announced that it is withdrawing from the international network for a green financial system, whose members include the European Central Bank (ECB) and monetary institutions of the eurozone, including the Croatian National Bank (CNB).
The NGFS international network was established in December 2017 and today includes 143 members from 90 countries that investigate the impact of climate risks on the financial system and consider management models.
Members of the network include, among others, the Swiss SNB and the European Central Bank (ECB) and the central monetary institutions of all eurozone members, including the Croatian National Bank, as of mid-June 2021. year, according to data on the CNB’s website.
The list of members also includes the central banks of Bosnia and Herzegovina, Serbia, Montenegro, North Macedonia and Albania.
The initiative was joined by numerous regulators for banks and insurers, such as EBA and EIOPA.
The US Fed announced on Friday that it is withdrawing from the NGFS as the scope of its work has expanded and now exceeds the framework set by US laws, they explained, reports SEEbiz.
A spokesman for the NGFS did not immediately respond to a request from Reuters to comment on the US central bank’s statement.
