Beyond the Mandate
The Federal Reserve’s Expanding Role in Climate Supervision Within the Financial Sector
The Federal Reserve’s climate-related activities exceed its legal authority and lack sufficient transparency to ensure democratic accountability. The formation of specialized committees such as the Supervision Climate Committee and Financial Stability Climate Committee, the issuance of climate-specific supervisory principles, and the conduct of pilot climate scenario analyses all reflect regulatory overreach. These actions risk politicizing the Fed. The opacity surrounding these initiatives undermines public trust and accountability.
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