US Treasury Department withdraws from global regulatory climate change group

The U.S. Treasury Department said on Thursday it was withdrawing from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.

"The U.S. Department of the Treasury's (Treasury) Federal Insurance Office (FIO) today notified the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) that it is withdrawing its membership," the U.S. Treasury Department said in a statement.