The European Central Bank is examining a climate risk buffer requirement and climate risk weight policies in response to unaddressed systemic climate risk to the banking and financial sectors, reveals the latest issue of the central bank’s Macroprudential Bulletin.
Climate advocates have expressed their frustration with what they see as an unnecessary and unacceptable delay.
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.
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.
A new report from the Network for Greening the Financial System finds growing evidence that biodiversity loss could have significant economic and financial implications.
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.
The climate strategies of Luxembourg’s banks and investment funds are “timid, or even non-existent,” according to an analysis published in the Banque Centrale du Luxembourg’s latest Financial Stability Review.
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 House Democrats have introduced a bill that would require the Federal Reserve to force large banks to align their financing of fossil fuel and deforestation activities with science-based emissions targets.
A cross-party group of 43 British members of parliament have written to Bank of England (BoE) Governor Andrew Bailey encouraging him to work with the Treasury and other authorities to align UK finance with the UK government’s climate goals.
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 …
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