ECB examines climate-related capital requirements
The European Central Bank is examining a climate risk buffer requirement and climate risk weight policies in response to unaddressed systemic climate risk to the banking and financial sectors, reveals the latest issue of the central bank’s Macroprudential Bulletin.
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.
ECB releases bank climate stress test methodology
The ECB has published the methodology of its upcoming climate risk stress test of Eurosystem banks, requiring lenders to assess their exposure to climate risks and evaluate their response to common transition scenarios.
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.
Weekly roundup: climate defaults and the ECB’s mandate
Residential mortgages pose a climate risk to US financial stability, Canadian and Australian regulators to expand disclosure expectations, a new FSB financial stability surveillance framework, and more from this week in green central banking.
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