Canadian regulator to act on climate risk buffers
Canada’s top financial regulator will act to ensure that banks and other financial institutions have sufficient capital to weather the effects of intensifying physical climate risk.
Weekly roundup: Hong Kong stress test and Malaysia climate requirements
A climate risk stress test of Hong Kong banks, new regulations for Malaysian banks, a review of research on monetary policy and climate risk and more from this week in green central banking.
2021: plenty of climate talks, but little practical progress
As the climate and ecological crises continue to accelerate, central banks have made slow progress in addressing their role as calls grow to stop the funding of the destruction of the natural world.
Climate campaigners call for ‘one-for-one’ capital requirements
Academics, economists and civil society organisations are calling for regulators to introduce ‘one-for-one’ capital requirements for financial institutions funding new fossil-fuel projects, similar to the Basel Committee’s proposals for cryptoassets.
G20 leaders fail to agree on climate finance regulation
The G20 summit in Rome has concluded without agreement on financial regulation to reduce growing climate-related risks to economic and financial stability. Commitments on sustainable finance were largely confined to calls for further research and analysis.
Weekly roundup: climate protests and a new Korean green lending programme
A Nordic perspective on climate and central banking, a new targeted green lending programme from the Bank of Korea, coordinated climate protests at the Fed, ECB, Bank of England and Bundesbank and more from this week in green central banking.
Scorecard update: G20 central banks failing on climate
A major study by Positive Money and Green Central Banking reveals that G20 central bankers and financial supervisors remain stuck in data-gathering exercises and are failing to meaningfully respond to the climate and ecological crisis.
From diagnosis to action: bridging the disconnects in the FSOC report
The recent FSOC report on climate-related financial risk shows the gap between diagnosing the problem and acting to address it is significant, says Alexander Barkawi.
Weekly roundup: Climate risk weighting and Lagarde on price stability
Finance Watch’s Thierry Philipponnat on climate risk weighting in capital allocations, a new Chair of the Fed’s Financial Stability Climate Committee, Christine Lagarde on price stability, and more from this week in green central banking.
Study prompts calls for fossil fuel capital requirements
A new study has found that a substantial stranding of fossil fuel assets is necessary if the Paris Agreement target is to be met, prompting civil society organisations to call for risk weighting and other capital requirements to be introduced …
Report finds central banks failing on climate action
A study assessing twelve of the world’s largest central banks against ten climate-related policy criteria has found all failing to align their lending, asset purchases and regulatory activities with the Paris Agreement target.
You have seen 11 of 17