4 Yet we can also see not far from here the promise of green innovation. 5  1  I am grateful to Brigitte Roth Tran of the Federal Reserve Board for assistance in preparing this text. These remarks represent my own views, which do not necessarily represent those of the Federal Reserve Board or the Federal Open Market Committee.
2 See Glenn D. Rudebusch (2019), “Climate Change and the Federal Reserve,” FRBSF Economic Letter 2019-09 (San Francisco: Federal Reserve Bank of San Francisco, March), https://www.frbsf.org/economic-research/publications/economic-letter/2019/march/climate-change-andfederal-reserve. 3 For example, see Russell Gold (2019), “PG&E: The First Climate-Change Bankruptcy, Probably Not the Last,” Wall Street Journal, January 18.