Climate central to upcoming ECB Forum on Central Banking

September 24, 2021|Written by Graham Caswell|Bank of England, Bank of Japan, European Central Bank, Federal Reserve

Climate change is set to feature prominently in this year’s ECB Forum on Central Banking, an annual event ordinarily held in Sintra, Portugal. With the theme Beyond the Pandemic: the Future of Monetary Policy, the conference will take place on 28 and 29 September and will include a full day on structural change and the implications of climate change for monetary policy.

First held in 2014, the ECB’s annual central banking meeting brings together central bank governors, academics, financial market actors and journalists to share views on current policy issues and to discuss key topics from a longer-term perspective. It is essentially the ECB’s equivalent of the Federal Reserve’s annual Jackson Hole Symposium.

The programme for this year’s event includes sessions on the future of inflation, productivity and business dynamics, employment and inequality, and climate policies and monetary policies in the euro area. Panel discussions will be chaired by members of the ECB’s executive board and will include the presentation of papers already available on the bank’s website.

The forum will conclude with a high level policy panel discussion between Bank of England governor Andrew Bailey, Bank of Japan governor Haruhiko Kuroda, ECB president Christine Lagarde and chair of the Federal Reserve Jerome Powell.

Released on Monday, the ECB’s background paper on climate change and monetary policy in the euro area will inform the discussion, as will the results of the bank’s ground-breaking economy-wide climate stress test, released Wednesday. Considering the accelerating attention given to the climate crisis and the climate-related controversy surrounding US president Joe Biden’s upcoming decision on the re-appointment of the Fed chair, this year’s conference promises to be a significant event for central bank action on climate change.

Green Central Banking will be running a live blog on the conference, bringing you climate-related context, commentary and news as it happens.

This page was last updated September 28, 2021

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