Fed's Quarles urging central bank to consider joining climate-change group

20 May 2019 7:09pm
Randal Quarles, the vice chairman for supervision at the US Federal Reserve, said he is “actively encouraging” discussions at the central bank on whether to join a 36-member international group examining the financial risks of climate change.

“We are looking very closely at it,” Quarles told the Senate Banking Committee last week. “We should definitely be engaged in learning more about risk to the financial sector, and that includes climate change risk.”

“I am actively encouraging that we examine it,” he added.