Federal Reserve Board
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Hopefully this will awaken the banks to invest in green energy and not on fossil fuels. If they thought about the future for a minute, they would redefine their operations.
This is a positive development as it shows that the Federal Reserve is taking the issue of climate change seriously and is taking steps to ensure that banks are prepared for the potential impacts of climate change on their operations. However, the statement also implies that this initiative may have been overdue and that more should have been done sooner to address this issue.