FSOC climate report recognises systemic risk but avoids firm timelines
The report avoids recommending firm timelines for regulators to take action, and includes no consideration of some of the bolder interventions taken by regulators in other G20 economies.
Central banks discuss macrofinancial impacts of climate change
A joint Bank of Italy and Bank of England research conference on the macrofinancial impacts of climate change has concluded with a call by BoI governor Ignazio Visco for international collaboration in the runup to Cop26.
World Energy Outlook report shows banks at odds with IEA over net-zero plans
Leading banks have resisted agreeing to end financing of all new fossil fuel exploration this year, despite an IEA warning that a ban is necessary to reach net zero by 2050.
Central banks should support governments on biodiversity loss, says NGFS
A new report from the Network for Greening the Financial System finds growing evidence that biodiversity loss could have significant economic and financial implications.
Weekly roundup: Fed planning climate stress tests and Carney under fire
Fed’s Brainard says climate stress tests on the way for US banks, Carney under fire over COP26 ‘greenwashing’, G20 central banks urged to green refinancing operations and more from this week in green central banking.
BoE’s Ramsden: climate rules won’t prompt rush to shadow banks
The Bank of England’s deputy governor has expressed optimism that tightening climate rules on banks will not lead to increased financial flows towards unregulated activities and institutions. …
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 …
MPs call on BoE to align UK finance with climate goals
A cross-party group of 43 British members of parliament have written to Bank of England (BoE) Governor Andrew Bailey encouraging him to work with the Treasury and other authorities to align UK finance with the UK government’s climate goals.
Weekly roundup: ‘Green Flamingos’ and Danmarks Nationalbank on climate price stability
Danish central bank on climate and price stability, new EU climate reporting standards, the ‘Green Flamingo’ of emerging markets and how Latin American central banks failing on climate change. This and more from this week in green central banking…
US Senator calls for climate-focused Fed Chair
US Senator Sheldon Whitehouse (D – R.I.) has called for a climate-focused Chair of the Federal Reserve as speculation grows over whether President Joe Biden will re-nominate current Chair Jerome Powell for another four-year term.
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