The Treasury Department announced it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, which focuses on climate risk management. The department noted that the NGFS was organized to help to meet the goals of the Paris Agreement, from which the United States has withdrawn.
Past Withdrawals: The FDIC and Federal Reserve recently announced their withdrawal from the network, citing issues with statutory authority.
ICBA View: ICBA opposes any climate risk regulation that adversely impacts community banks. In a statement to Congress last year, ICBA said agency efforts on climate risk are an emerging threat to community banks and their customers.