Trump exit unleashes Financial Stability Board to act on climate

Quarles, Randal (Federal Reserve, FSB) from Alamy 7Apr21 575x375
By Jon Hay
07 Apr 2021

The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.

Under Trump, said one green finance expert, “the FSB didn’t want to antagonise the US, especially the SEC. It was extremely prudent, so it didn’t move forward. There was a surprising shift in gear in February.”

On Tuesday, Randal Quarles, the FSB’s chair (pictured), wrote to the central ...

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