The Federal Reserve unanimously voted yesterday to join the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), an international group of central banks and regulators dedicated to assessing climate risk. Previously, the US had been the only major central bank not part of the group aside from the Reserve Bank of India, although it had been participating informally in the network for over a year. The move comes after a group of House Republicans sent a letter to the Fed Chair Jerome Powell last month urging him not to join the network, citing that NGFS policies could harm US oil and gas producers. “As we develop our understanding of how best to assess the impact of climate change on the financial system, we look forward to continuing and deepening our discussions with our NGFS colleagues from around the world,” Fed Chair Jerome Powell said in a statement. (Reuters, New York Times $, The Hill