On February 11, Acting Comptroller of the Currency Rodney E. Hood announced the OCC’s withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System. Hood emphasized that the OCC’s “primary mission is to ensure the safety, soundness and fairness of national banks and federal savings associations” and participation in the climate network “extends well beyond the OCC’s statutory responsibilities.” Therefore, according to Hood, involvement in the organization does not align with the OCC’s regulatory mandate. Hood acknowledged that while “severe weather events may be a broader societal concern,” they do not fall within the OCC’s statutory duties.
