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.
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.
New ECB climate and monetary policy analysis released
The ECB has published a substantive review and analysis of climate change and monetary policy in the euro area, identifying potential problems with monetary policy transmission as a result of climate-related impacts.
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.
US civil society groups add to calls for new Fed Chair
Civil society groups from 32 organisations have sent an open letter to US President Joe Biden asking him to replace Jerome Powell as US Federal Reserve Chair due to his weak leadership on addressing climate change and its effects on …
Priorities for the Next Federal Reserve Chair: Assertively Take On Climate-Related Risk
Current Fed Chair Jerome Powell has taken little to no action on climate change and the next Fed chair should adopt a dramatically different and proactive approach to eliminating climate risk from the US financial system, write David Arkush and …
Weekly roundup: ‘Green Flamingos’ and Danmarks Nationalbank on climate price stability
Danish central bank on climate and price stability, new EU climate reporting standards, the ‘Green Flamingo’ of emerging markets and how Latin American central banks failing on climate change. This and more from this week in green central banking…
US Senator calls for climate-focused Fed Chair
US Senator Sheldon Whitehouse (D – R.I.) has called for a climate-focused Chair of the Federal Reserve as speculation grows over whether President Joe Biden will re-nominate current Chair Jerome Powell for another four-year term.
BIS and HKMA to build prototype green bond platform
The Bank of International Settlements (BIS) and the Hong Kong Monetary Authority (HKMA) will jointly develop a blockchain-based prototype platform to issue and distribute retail green bonds and to report on their environmental impacts.
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