Two new studies have found that deforestation could create a loss in value as great as the 2008 financial crash, and that central banks have purchased debt from issuers linked to forest loss.
Debt and rising inflation mean low and middle-income countries are struggling to deal with climate impacts. Time for debt-free climate finance, argue analysts from the Latin American Network for Economic and Social Justice.
The ECB has identified gaps in climate-related information from private credit ratings and outlined its own standards for incorporating climate risks into central bank credit assessments.
Civil society groups have criticised the ECB’s plan to decarbonise its corporate portfolio, saying it lacks transparency and allows continuing support for the worst polluters.
The BIS on sovereign green bonds, the ECB on climate fiscal policies, a conference on greening monetary policy in times of soaring inflation and more from this week in green central banking.
Inflation associated with fossil fuel dependency and changing weather patterns requires ECB action if it is to fulfill its mandate, finds a new report.
Novelist Kim Stanley Robinson explains why he put central banks at the centre of a near-future novel about climate change, and how rethinking the global financial system is a vital step in tackling the environmental crisis.
Africa losing up to 15% of GDP growth to climate change, drought contributing to global food price inflation, Bundesbank calls for urgent transition and more from this week in green central banking.
The ECB will soon introduce climate change considerations into its corporate bond purchases, favouring issuers according to past performance, future targets and quality of disclosures.
The Bank of England is to become the lender of last resort to UK energy companies facing liquidity issues, while policy makers discuss a similar role for the European Central Bank.
A new NGFS paper has argued that increased fossil energy prices is acting as an involuntary price on carbon, offering a “narrow but unique opportunity” to accelerate the transition to net zero.
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