The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement,

The Federal Reserve announced that it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, which incorporated climate risk into financial rules.

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change. The Fed's membership has been criticized by Republicans in Congress.