Fed scenario analysis, World Bank reform push and ECB deadline: 2023 in green central banking
The Fed’s inaugural climate scenario analysis exercise and an ECB deadline on banks’ management of climate risks are among the key milestones in green central banking in the year ahead.
Climate threatens price stability, says Fed vice chair
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.
Federal Reserve still performs poorly in Green Central Banking Scorecard
The report finds that the US central bank has still taken no action at all to consider climate change when conducting monetary policy.
Eurosystem tops latest Green Central Banking Scorecard
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.
Calls grow for green targeted measures instead of interest rate hikes
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.
New York Fed report recommends lower rates for energy efficiency
The New York Fed on funding energy efficiency renovations, the BdF’s deputy governor on tipping points and transformative change, a prototype BIS green bond platform, and more from this week in green central banking.
Fed paper highlights importance of double materiality
A new paper from Fed supervision committee member Kevin Stiroh has found that double materiality is important for macroprudential objectives and incorporating it into policy would constrain environmentally damaging activities.
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