Banks look able to bear the losses resulting from climate change in part by passing them onto their customers, the Bank of England has reported following its first climate stress test.
Financial regulation is shaped by previous crises, but the climate crisis is like nothing else and so regulators are woefully unprepared, argues James Vaccaro of the Climate Safe Lending Network.
A candidate for Bank of Japan governor discusses green capital spending as a solution to Japan’s anemic growth, an ECB paper on the importance of double materiality, the NGFS on credit ratings and more from this week in green central …
The macroeconomic and ecological landscape is changing rapidly, and monetary policy needs to evolve to support sustainable prosperity, says Katie Kedward of UCL’s Institute for Innovation and Public Purpose.
Amid intensifying attacks from Republican lawmakers, US treasury secretary Janet Yellen has repeatedly defended regulators’ action to address climate risks.
In its latest annual report, the Banco de España has identified “moderate” short term climate-related risks facing Spanish financial institutions, rising dramatically as physical risks materialise.
A Nobel laureate says supervisors must understand climate uncertainty, systemic risk buffers and climate risk, an FSB call for transparency, cooperation and a holistic perspective, and more from this week in green central banking.
Mainstreaming disclosure is an essential step towards aligning China’s financial system with sustainability but is far from sufficient to guarantee a sustainable financial future, says Cheng Lin of the Beijing Institute of Finance and Sustainability.
Aviva has said it supports giving regulators a statutory duty to facilitate the financial sector’s alignment with net zero and to consider the importance of reversing nature loss.
Seventy percent of US retail investors want the SEC to require all public corporations to disclose standardised information about their climate risks, according to a new survey.
The EU has been urged to strengthen the powers of the ECB and other supervisors to judge banks’ climate transition plans, and to ensure they stick to them. …
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