{"id":370778,"date":"2025-03-18T15:21:11","date_gmt":"2025-03-18T14:21:11","guid":{"rendered":"https:\/\/climatescience.press\/?p=370778"},"modified":"2025-03-18T15:21:13","modified_gmt":"2025-03-18T14:21:13","slug":"could-fed-exit-from-the-climate-group-trigger-an-exodus","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=370778","title":{"rendered":"Could Fed Exit from the Climate Group Trigger an Exodus?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"482\" data-attachment-id=\"370781\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=370781\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?fit=2500%2C1667&amp;ssl=1\" data-orig-size=\"2500,1667\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"00federal-reserve\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?fit=723%2C482&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=723%2C482&#038;ssl=1\" alt=\"\" class=\"wp-image-370781\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=1024%2C683&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=768%2C512&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=1536%2C1024&amp;ssl=1 1536w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=2048%2C1366&amp;ssl=1 2048w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?resize=1200%2C800&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?w=1446&amp;ssl=1 1446w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?w=2169&amp;ssl=1 2169w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"https:\/\/wattsupwiththat.com\/2025\/03\/17\/could-fed-exit-from-the-climate-group-trigger-an-exodus\/\">Watts Up With That?<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By Vijay Jayaraj<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For many across the world, the U.S. Federal Reserve\u2019s decision to exit the Network for Greening the Financial System (NGFS) is a sign that central banks can refocus on their primary mandates: stabilizing economies, controlling inflation and fostering growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Developing nations that need financial backing for the development of fossil fuel projects to advance economic development hopefully can look forward to a reversal of the vacuous injection of a climate change agenda into monetary policy. This corruption of the financial system has burdened the impoverished of the Third World with \u201cgreen\u201d mandates that impede the eradication of poverty and the ills that accompany it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Currently,&nbsp;<a href=\"https:\/\/www.ngfs.net\/en\/about-us\/membership\" target=\"_blank\" rel=\"noreferrer noopener\">NGFS membership<\/a>&nbsp;includes central banks and financial institutions from 22 countries in Africa, 32 in Asia-Pacific and 20 in the Americas, which may now be emboldened to reevaluate \u2013 and abandon \u2013 whatever priority they have assigned to climate initiatives.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Banks and asset managers often look to central banks for guidance on regulatory priorities. The Fed\u2019s departure may prompt others to scale back useless climate commitments, putting an end to the unnecessary diversion of resources from immediate socioeconomic challenges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Time for Global Central Banks to Begin the Exodus<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, Canada\u2019s federal government has implemented a plethora of climate policies, leading to higher carbon taxes, more volatility in the energy sector, lower export income and an overall disastrous state of the economy. Aspiring to drive Canada towards more climate idiocy is Mark Carney, recently elected Canada\u2019s prime minister by the ruling Liberal Party.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, other Canadians have different thoughts. \u201cMajor banks across North America are leaving Mark Carney\u2019s international net-zero banking scheme, but some Canadian banks remain members, says&nbsp;<a href=\"https:\/\/www.linkedin.com\/posts\/rebecca-schulz-86398944_major-banks-across-north-america-are-leaving-activity-7286521180490973184-CZIv\/\" target=\"_blank\" rel=\"noreferrer noopener\">Rebecca Schulz<\/a>, Alberta Minister of Environment and Protected Areas. \u201cThe remaining Canadian banks must abandon Carney\u2019s net-zero banking alliance and invest in safe, affordable, reliable Canadian energy again.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Global South has No Time to Waste<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even global entities that act as a financial bridge for development projects \u2013 like the World Bank, African Development Bank and Asian Development Bank \u2013 are deeply entrenched in the climate politics that deny billions of people potential access to affordable fossil fuels.<br>NGFS membership comes with expectations to adopt costly climate-related financial regulations. In the Global South, where millions still lack access to electricity or clean water, such priorities are utterly disconnected from reality.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More than 40% of the African populations \u2013 600 million people \u2013 lack access to electricity. That translates to 20% of households with extreme food shortages and 30% of children suffering from acute malnutrition. Every day, 2 in 10,000 succumb to famine.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nearly 4 million across the world \u2013 roughly the population of Los Angeles \u2013 die prematurely each year due to a lack of clean cooking fuels like natural gas. Many could be saved if financial institutions removed the red tape smothering investments in production of fossil fuels.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hyperinflation, currency instability and unemployment are immediate threats that demand urgent attention in developing nations. Redirecting resources toward these issues would go much further in improving living standards than the obsession with wind turbines and solar panels to prevent a fabricated climate crisis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When even the Federal Reserve of the U.S. \u2013 the biggest funder of the United Nations and World Bank \u2013 is opting out of a woke climate cabal, then the central banks of poorer countries have no business participating in NGFS\u2019s wasting of time and money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The developing world must seize this opportunity to advocate for their financial autonomy. Central banks in poorer nations should choose to prioritize the well-being of their populations and ensure that global financial governance reflects economic realities that demand an end to coercive climate policies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This commentary was first published at<em>&nbsp;<a href=\"https:\/\/www.realclearmarkets.com\/articles\/2025\/03\/12\/could_the_feds_exit_from_the_climate_group_trigger_an_exodus_1096972.html\" target=\"_blank\" rel=\"noreferrer noopener\">RealClearMarkets<\/a><\/em>&nbsp;on March 12, 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><a href=\"https:\/\/co2coalition.org\/teammember\/vijay-jayaraj\/\" target=\"_blank\" rel=\"noreferrer noopener\">Vijay Jayaraj<\/a>&nbsp;is a Science and Research Associate at the&nbsp;<\/em><a href=\"http:\/\/co2coalition.org\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em>CO<sub>2<\/sub>&nbsp;Coalition<\/em><\/a><em>, Arlington, Virginia. He&nbsp;<\/em><em>holds an M.S. in environmental sciences from the University of East Anglia and a postgraduate degree in energy management from Robert Gordon University, both in the U.K., and a bachelor\u2019s in engineering from Anna University, India.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For many across the world, the U.S. Federal Reserve\u2019s decision to exit the Network for Greening the Financial System (NGFS) is a sign that central banks can refocus on their primary mandates: stabilizing economies, controlling inflation and fostering growth.<\/p>\n","protected":false},"author":121246920,"featured_media":370781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691833888,691833889,691833887,691818352,691818056,691821242,691818154,691833886,691820465],"class_list":{"0":"post-370778","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-african-development-bank","9":"tag-asian-development-bank","10":"tag-green-mandates","11":"tag-carbon-taxes","12":"tag-climate-change","13":"tag-corruption","14":"tag-net-zero","15":"tag-network-for-greening-the-financial-system-ngfs","16":"tag-world-bank","18":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00federal-reserve.webp?fit=2500%2C1667&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1ysi","jetpack-related-posts":[{"id":362806,"url":"https:\/\/climatescience.press\/?p=362806","url_meta":{"origin":370778,"position":0},"title":"Federal Reserve Withdraws from Global Climate Coalition","author":"uwe.roland.gross","date":"20\/01\/2025","format":false,"excerpt":"n recent weeks, the climate policy landscape has shifted significantly, with institutions, governments, and corporations beginning to step back from the ambitious but economically questionable climate commitments they made over the last decade. Two major developments underscore this retreat: the U.S. Federal Reserve\u2019s exit from the Network of Central Banks\u2026","rel":"","context":"In \"BlackRock\"","block_context":{"text":"BlackRock","link":"https:\/\/climatescience.press\/?tag=blackrock"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0AdobeStock_287265662-scaled-1.jpeg?fit=1200%2C799&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0AdobeStock_287265662-scaled-1.jpeg?fit=1200%2C799&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0AdobeStock_287265662-scaled-1.jpeg?fit=1200%2C799&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0AdobeStock_287265662-scaled-1.jpeg?fit=1200%2C799&ssl=1&resize=700%2C400 2x, 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agenda","link":"https:\/\/climatescience.press\/?tag=climate-agenda"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/08\/0AQPvUkF8yzJ23Mk8jkkIGTGvDv8Z7BNmD3clYuuwJ8xN9bwi1ZRugagwbnEqXyuZKJhZkktUylXuSn6wufSxHN3wom5ZCegiWkuqEy8oBKsG3k0Vx_6QPdyPnF1IK71Yv_4hEjPR9pl5yTrnLGNIfnzCGCfAxw-1.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/08\/0AQPvUkF8yzJ23Mk8jkkIGTGvDv8Z7BNmD3clYuuwJ8xN9bwi1ZRugagwbnEqXyuZKJhZkktUylXuSn6wufSxHN3wom5ZCegiWkuqEy8oBKsG3k0Vx_6QPdyPnF1IK71Yv_4hEjPR9pl5yTrnLGNIfnzCGCfAxw-1.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/08\/0AQPvUkF8yzJ23Mk8jkkIGTGvDv8Z7BNmD3clYuuwJ8xN9bwi1ZRugagwbnEqXyuZKJhZkktUylXuSn6wufSxHN3wom5ZCegiWkuqEy8oBKsG3k0Vx_6QPdyPnF1IK71Yv_4hEjPR9pl5yTrnLGNIfnzCGCfAxw-1.jpeg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, 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\"Climate change\"","block_context":{"text":"Climate change","link":"https:\/\/climatescience.press\/?tag=climate-change"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOEhUmD6wjhGGXr_0KFsjw3VVsaiH5ydpoS3VddfqojH_9v52zGbSNsM-9EdDE8igha5rys2AsD_Y0TMo5mLDS0s0KIQqgq3cCymfsDd2HVyk-abWeQDV1hZDUzKMDP.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOEhUmD6wjhGGXr_0KFsjw3VVsaiH5ydpoS3VddfqojH_9v52zGbSNsM-9EdDE8igha5rys2AsD_Y0TMo5mLDS0s0KIQqgq3cCymfsDd2HVyk-abWeQDV1hZDUzKMDP.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOEhUmD6wjhGGXr_0KFsjw3VVsaiH5ydpoS3VddfqojH_9v52zGbSNsM-9EdDE8igha5rys2AsD_Y0TMo5mLDS0s0KIQqgq3cCymfsDd2HVyk-abWeQDV1hZDUzKMDP.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, 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When it\u2019s found to be wrong&#8230; crickets","author":"uwe.roland.gross","date":"22\/10\/2025","format":false,"excerpt":"In the world of climate politics, highly pessimistic scenarios can drive headlines and coverage, and so in turn have an impact on policy. Two recent unfortunate episodes show that the rush to shout \u201cfire\u201d means that some scenarios are gaining massive influence when they should instead be attracting sceptical reviews\u2026","rel":"","context":"In \"Climate change\"","block_context":{"text":"Climate change","link":"https:\/\/climatescience.press\/?tag=climate-change"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQN1SiKrUlJbogLSPGFTwaXYtwtkgq1DmGgArKuTxl5p9oBHYFJFHVSDF4BE-KQOj2XskoeHBhSCVTZ1B1z77EPeugxorMFO1cXbSSfWpb6QO9oFcreCIw_5syeu3uw.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQN1SiKrUlJbogLSPGFTwaXYtwtkgq1DmGgArKuTxl5p9oBHYFJFHVSDF4BE-KQOj2XskoeHBhSCVTZ1B1z77EPeugxorMFO1cXbSSfWpb6QO9oFcreCIw_5syeu3uw.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, 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PIK\u00a0exemplar","author":"uwe.roland.gross","date":"02\/09\/2025","format":false,"excerpt":"Critics of climate policy have long pointed to the\u00a0problematic dominance of politics in climate science.\u00a0A recent study from the\u00a0Potsdam Institute for Climate Impact Research\u00a0(PIK),\u00a0which\u00a0systematically exaggerated the economic consequences of climate change, has reignited the debate over scientific standards and political manipulation in the field.","rel":"","context":"In \"\u201cNetwork for Greening the Financial System\u201d\u00a0(NGFS)\"","block_context":{"text":"\u201cNetwork for Greening the Financial 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