The Federal Reserve announced its decision to exit a global coalition aimed at addressing climate change and its potential risks to the financial system. The decision comes shortly before the inauguration of former President Donald Trump, a noted climate change skeptic. This move signals a key shift in the U.S. government’s approach to addressing environmental concerns within financial systems.
Vero’s thoughts on the news:
This decision highlights the ongoing tension between the urgency of addressing climate risks and policies that prioritize short-term economic or political goals. As technology continues to drive innovative solutions for climate challenges, such as carbon tracking apps and AI-driven environmental models, the absence of structural support from key entities like the Federal Reserve may slow progress. For tech professionals invested in leveraging data and software to combat climate change, this withdrawal represents a missed opportunity to integrate systemic financial support with advancing technologies.
Source: Fed pulls out of global climate change group before Trump inauguration – Axios
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