When you think of ways to reduce carbon emissions and cool a scorching planet, involving the U.S. Federal Reserve Board may not immediately spring to mind.
But Jennie C. Stephens, dean’s professor of sustainability science and policy at Northeastern University, says central banks play a pivotal role in determining whether society continues to invest in fossil fuels or green energy.
“I’ve been studying how society is responding to the climate crisis for my whole career, for 30 years,” Stephens says.
“At the beginning, I was focused more on technology and the science of understanding it, but increasingly I have realized that there’s no technology that’s going to fix this. This is a social, economic and political issue.”
