U.S. Fed withdraws from green finance council ahead of Trump's inauguration

Even ahead of the inauguration of Trump, who is skeptical of clean energy, the U.S. central bank, the Federal Reserve, said it was withdrawing from the Green Finance Council, a global consultative body between the central bank for green finance and the financial regulator.

The Fed issued a withdrawal statement, saying the Green Financial Consultative Body has been addressing a wide range of issues beyond the Fed's legal authority as its scope of activity has gradually expanded.

The Green Finance Council is an international consultative body established in December 2017 to promote work by central banks and regulators on climate change risks.

As of December last year, 144 institutions from 90 countries are participating as members, and the Bank of Korea and the Financial Supervisory Service joined in 2019.

Earlier, Trump has rejected scientists' claims that humans using fossil fuels are the main culprits of global warming, claiming that "climate change is fraudulent."

Major Wall Street banks and financial companies have also recently announced their withdrawal from climate response organizations ahead of Trump's inauguration, with BlackRock, the world's largest asset manager, earlier announcing its withdrawal from the carbon neutral asset manager initiative on the 9th.

General companies are also stepping out of ESG (Environmental, Social and Governance) programs ahead of the launch of the second Trump administration.