The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement,

The Federal Reserve announced that it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, which incorporated climate risk into financial rules.

The central bank said it had decided to leave the network after the group’s work “increasingly broadened in scope.”