Policy changes and backtracks by national governments were holding back corporate plans to limit global warming, a former Federal Reserve board member conducting a UN consultation said.
Sarah Bloom Raskin, who was US president Joe Biden’s pick to lead financial regulation at the Fed before running into Republican opposition, told the Financial Times that companies were struggling to make climate plans.
“It’s hard to plan to invest when a policy context is either patchy, non-existent [or] not well designed,” said Raskin, who also served as US Treasury deputy secretary during the Obama administration.
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