Eurosystem tops latest Green Central Banking Scorecard
Work to green the ECB’s monetary policy has put Eurosystem central banks at the top of the 2022 Green Central Banking Scorecard as China, the Us, Brazil and India all fall in the rankings.
Scenario analysis may ‘understate’ climate risks, warn FSB and NGFS
A joint report from the FSB and NGFS has warned that current climate scenario analysis exercises “may understate” climate exposure by failing to account for second-round effects, non-linearities and other large sources of climate risk.
TNFD publishes nature-related scenario analysis proposal
A TNFD nature-related scenario analysis proposal, an IMF warning to Caribbean central banks, new ISSB climate disclosure rules, a BoE protest and more from this week in green central banking.
Climate part of ECB price stability mandate, says Lagarde
ECB president Christine Lagarde has firmly placed climate change within the central bank’s primary mandate of maintaining price stability, calling for its full incorporation into the central bank’s models, analyses and monetary policy.
Calls grow for green targeted measures instead of interest rate hikes
Civil society groups are questioning the effectiveness of rate hikes, instead calling for targeted support to address fossil fuel dependency, climate change and other root causes of supply shock inflation.
New York Fed report recommends lower rates for energy efficiency
The New York Fed on funding energy efficiency renovations, the BdF’s deputy governor on tipping points and transformative change, a prototype BIS green bond platform, and more from this week in green central banking.
FSB publishes final report on approaches to climate risk
The Financial Stability Board has published its final report on supervisory and regulatory approaches to climate-related risks, calling for a more consistent global approach to managing the effects of global heating.
NGFS chair calls climate change ‘the mother of all supply-side shocks’
The NGFS chair on climate change supply shocks, the ECB’s Frank Elderson on the biodiversity risks threatening financial markets, an ISSB requirement for scope 3 emissions disclosure and more from this week in green central banking.
Fed paper highlights importance of double materiality
A new paper from Fed supervision committee member Kevin Stiroh has found that double materiality is important for macroprudential objectives and incorporating it into policy would constrain environmentally damaging activities.
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