6 The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change. But without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals.
Ladies and Gentlemen, when we launched this programme we emphasized that financial literacy should be the business of the entire society and sought the support of all those who were in a position to help. We even suggested that some individuals with financial skills should see the financial literacy programme as a way of giving back to society.