OCC Withdraws from Global Climate and Green Finance Network
In a public statement, Acting Comptroller of the Currency Rodney E. Hood announced that the OCC has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System ("NGFS")—an international coalition of central banks working on climate and green finance issues.
Mr. Hood said that the agency's main mission is to ensure safety of national banks and that the mission of the NGFS "extends well beyond the OCC's statutory responsibilities and does not align with our regulatory mandate."
The OCC announcement comes on the heels of the Federal Reserve Board's withdrawal, the Treasury Department's Federal Insurance Office withdrawal and the FDIC's withdrawal from the organization.
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