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 Fed has released the scenarios that the largest US banks will have to consider to determine their resilience to climate change.
The Basel Committee responded to frequently asked questions to clarify how climate-related financial risks may be captured in the existing Basel Framework.
Jerome Powell in a speech on central bank independence declared that “we are not, and will not be, a ‘climate policymaker.’”
The Brazilian president’s pro-climate stance could create a favourable political context for the central bank to take further action, according to a policy expert.
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.
A growing drought risk to Brazil’s financial stability, a climate skills deficit among central bankers, a new initiative on data gaps and more from this week in green central banking.
The report finds that the US central bank has still taken no action at all to consider climate change when conducting monetary policy.
A deal struck at the United Nations climate summit Cop27 calls for rapid and far-reaching changes to the world’s financial system to fund the transition to a low-carbon economy.
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