Scoop: Fed to host its first conference dedicated to climate change
On Nov. 8, the Federal Reserve Bank of San Francisco — seated in a place that has seen its share of catastrophes linked to global warming — will host what is believed to be the central bank’s first research conference specifically on climate change.
Why it matters: Climate change poses systemic risks to the soundness of the U.S. banking system, and the Fed is signaling its appetite to learn more. The conference — together with an invitation to submit related research papers — comes at a time when the Fed is increasingly facing pressure to follow other central banks in considering the threats that global warming poses to the economy.
