On January 21, 2025, the FDIC announced that it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), effective immediately. The NGFS is a group of central banks and supervisors that voluntarily work to address environmental and climate risk management in the financial sector. The FDIC explained its decision to withdraw by claiming “the work of NGFS is not within the FDIC’s authorities and mandate.”