A top official at the Reserve Bank of Australia has warned that banks are unprepared for the climate risk facing the mortgage sector.
Monetary policy can assist the urgent shift to green energy, says the ECB’s Isabel Schnabel, the RBA’s deputy governor leaves for a green energy firm, and more from this week in green central banking.
The Australian Prudential Regulation Authority has released final guidance on how financial institutions should manage climate-related financial risks, but has stopped short of imposing new regulatory requirements or obligations.
A week dominated by Cop26 began with international climate protests focusing on central banks and ended with commitments from around the world to integrate climate considerations into monetary and financial decision-making.
Australia’s climate inaction scaring investors, White House releases roadmap on climate risk ahead of FSOC report, Bank of Mauritius launches climate change centre and more from this week in green central banking.
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.
Global investors and policy makers are closely watching Australia’s climate change policies, according to Philip Lowe of the Reserve Bank of Australia.
Australia’s financial regulator has published details of a climate vulnerability assessment being carried out by the country’s biggest banks to assess the nature and extent of the risks they may face due to climate change.
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