Federal Reserve creates new climate change committee

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The Federal Reserve has created a new climate committee to address the risks climate change poses to financial stability.

The new effort, called the Financial Stability Climate Committee, will draw from expertise across the Federal Reserve system and is intended to tackle risks to the broader financial system, said Lael Brainard, a member of the Federal Reserve’s board of governors. She announced the new committee during remarks Tuesday at a virtual conference hosted by the sustainable investment group Ceres.

The committee comes in addition to the Fed’s creation of a…

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