EU lawmakers have opted against supporting a one-for-one capital rule for lending to new fossil fuel projects, despite backing a similar measure for crypto assets.
The Fed has released the scenarios that the largest US banks will have to consider to determine their resilience to climate change.
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.
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.
Many central banks now recognise they have a role to play in addressing the climate crisis. But so far concerns have not been followed by concerted action, says Nikki Eames of Positive Money UK. …
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.
A joint report from the FSB and NGFS has warned that current climate scenario analysis exercises “may understate” climate exposure by failing to account for second-round effects, non-linearities and other large sources of climate risk.
Two new studies have found that deforestation could create a loss in value as great as the 2008 financial crash, and that central banks have purchased debt from issuers linked to forest loss.
Proposals to elevate competitiveness ahead of climate change as new objectives for UK financial regulators have been widely criticised by civil society groups.
A coalition of international NGOs and senior academics have issued a powerful call to action, demanding that central banks use all available tools to address climate change and biodiversity loss.
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