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.
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.
Australia’s climate inaction scaring investors, White House releases roadmap on climate risk ahead of FSOC report, Bank of Mauritius launches climate change centre and more from this week in green central banking.
Fed’s Brainard says climate stress tests on the way for US banks, Carney under fire over COP26 ‘greenwashing’, G20 central banks urged to green refinancing operations and more from this week in green central banking.
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.
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.
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