Climate central to upcoming ECB Forum on Central Banking
Climate change is likely to be central to next week’s ECB Forum on Central Banking. The online conference, normally held in Sintra, Portugal, will focus on the future of monetary policy and includes a panel on Climate Policies and Monetary …
Weekly roundup: BoJ to begin climate loans scheme and Biden picks climate-friendly regulator
Brazil’s banks told to begin climate stress tests, adverse weather a factor in Mexico monetary policy and more from this week in green central banking.
ECB releases results of economy-wide climate stress test
The ECB has released results of an economy-wide climate stress test examining climate impacts on four million firms and 1,600 euro area banks. It finds the costs of climate change far outweigh the costs of a low-carbon transition.
New ECB climate and monetary policy analysis released
The ECB has published a substantive review and analysis of climate change and monetary policy in the euro area, identifying potential problems with monetary policy transmission as a result of climate-related impacts.
Luxembourg banks unprepared for climate risks
The climate strategies of Luxembourg’s banks and investment funds are “timid, or even non-existent,” according to an analysis published in the Banque Centrale du Luxembourg’s latest Financial Stability Review.
Weekly roundup: Climate risk weighting and Lagarde on price stability
Finance Watch’s Thierry Philipponnat on climate risk weighting in capital allocations, a new Chair of the Fed’s Financial Stability Climate Committee, Christine Lagarde on price stability, and more from this week in green central banking.
The 2021 Scorecard
The Price of Hesitation: How the Climate Crisis Threatens Price Stability and What the ECB Must Do about It
This paper reveals how the ability of the European Central Bank to control inflation may be significantly undermined if the world passes the 1.5ºC warming threshold.
NGFS Climate Scenarios: pushing financial players into taking a risky gamble
This Reclaim Finance report assesses the credibility of the NGFS’ latest climate scenarios for central banks and supervisors, finding them heavily reliant on unproven carbon capture and storage at scale and on the unsustainable use of biomass for energy production.