ECB considers corporate bonds shift, SEC climate rule due in April, and more from this week 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.
The Basel Committee responded to frequently asked questions to clarify how climate-related financial risks may be captured in the existing Basel Framework.
Climate shocks could force central banks to reassess their inflation targets, according to Ayhan Kose of the World Bank.
Following other financial regulators, the Federal Reserve has released draft principles to guide large US banks in managing their climate-related financial risks.
The governor of the Reserve Bank of Australia clashed with a lawmaker on Monday over a proposal for the bank to play a bigger part in addressing climate change.
New legislation will require Swiss banks, insurers and large public companies to publish climate-related financial disclosures and transition plans by 2024.
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.
A review of climate-related financial disclosures has found that all lack decision-useful data across the TCFD recommendations and none are aligned with Paris Agreement targets.
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.
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