Fed creates committee on climate change impacts

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US Federal Reserve

The US Federal Reserve’s Eccles Building

The Federal Reserve is creating a new committee to examine the effects of climate change on banking and the economy. Kevin Stiroh, the New York Fed’s head of supervision, will chair the new body in Washington, DC.

The Supervision Climate Committee will be a “system-wide group bringing together senior staff across the Federal Reserve Board and reserve banks”.

Randal Quarles, Fed vice-chair, said that the committee “will build on our climate change work already underway across the Federal

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