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.
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.
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. …
Isabel Schnabel warns of climate effect on rates, the Fed finds lower ratings for high-carbon companies, the Bank of Jamaica expands climate risk supervision and more from this week in green central banking.
UK authorities are pressing ahead with plans to overhaul the regulatory regime for insurers, in a bid to unlock billions of pounds of green investment. …
The Financial Stability Board has launched a public consultation on supervisory and regulatory approaches to climate-related risks, seeking feedback on a report and recommendations.
The ECB on carbon price risk, a new UK transition plan taskforce, calls for a precautionary approach to address radical uncertainty and more from this week in green central banking.
The path to aligning the financial sector with the UK’s net-zero goals is like a “tightrope”, a top Bank of England official has warned. …
The UK chancellor has instructed the Bank of England and other financial regulators to consider the government’s commitment to continued investment in the oil and gas sectors.
A consensus has emerged that central bank mandates cannot be delivered without considering the implications of climate change and nature loss.
An environment risk weight tool that regulators can use immediately, Omfif calls for global sustainability baseline, a Mongolian sustainable finance roadmap, and more from this week in green central banking.
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