Fridays For Future campaigners are calling on MEPs to support a one-for-one capital requirement, forcing banks to fund new fossil fuel projects from their own resources.
A growing drought risk to Brazil’s financial stability, a climate skills deficit among central bankers, a new initiative on data gaps and more from this week in green central banking.
Supply disruptions as a result of climate change could contribute to price instability, Federal Reserve vice chair Lael Brainard has told the Bank for International Settlements’ annual conference.
The Bank of Japan says it is taking steps to correct a potential carbon bias in its operations, but critics claim its actions are inadequate.
Global heating and the natural interest rate, further calls for an RBA climate mandate, how the green transition may reduce inflation and more from this week in green central banking.
Many central banks now recognise they have a role to play in addressing the climate crisis. But so far concerns have not been followed by concerted action, says Nikki Eames of Positive Money UK. …
The report finds that the US central bank has still taken no action at all to consider climate change when conducting monetary policy.
Work to green the ECB’s monetary policy has put Eurosystem central banks at the top of the 2022 Green Central Banking Scorecard as China, the Us, Brazil and India all fall in the rankings.
ECB president Christine Lagarde has firmly placed climate change within the central bank’s primary mandate of maintaining price stability, calling for its full incorporation into the central bank’s models, analyses and monetary policy.
The ECB has begun applying additional capital requirements to banks that fail to effectively manage climate and environmental risks.
Civil society groups are questioning the effectiveness of rate hikes, instead calling for targeted support to address fossil fuel dependency, climate change and other root causes of supply shock inflation.
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