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An expanse of tropical forest, cleared in the foreground creating an angular treeline
September 30, 2022

QE-funded deforestation linked to financial instability

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.
Bank of England, European Central Bank, Federal Reserve
The Houses of Parliament in London, seen at night
September 8, 2022

Climate controversy over UK regulator duties

Proposals to elevate competitiveness ahead of climate change as new objectives for UK financial regulators have been widely criticised by civil society groups.
Prudential Regulation Authority, Financial Conduct Authority
A pool of bright blue water lies in a depression on a glacier
September 7, 2022

Civil society groups tell central banks: ‘do whatever it takes’ on climate

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.
Two women walk through shallow floodwaters in Pakistan
September 1, 2022

Climate-driven floods push Pakistan inflation to 44.5%

Catastrophic flooding in Pakistan has pushed the year-on-year price of essential items up by 44.58% and inflation is compounding a humanitarian disaster affecting more than 30 million people.
State Bank of Pakistan
A skyscraper with the HSBC logo at the top
August 18, 2022

Study quantifies climate opportunities for UK banks

A new BoE staff study has found that 10% of UK bank assets are either directly or indirectly exposed to the transition to net zero, with some likely to benefit from the switch to renewable energy.
Bank of England
A group of soldiers wearing fatigues and carrying large guns stand in front of military vehicles, one of which flies the Ukrainian flag
August 17, 2022

Ukraine crisis puts world in disorderly climate transition scenario, says NGFS’s Menon

The fallout from Russia’s invasion of Ukraine may put the world in a disorderly climate transition scenario, the chair of the NGFS has said.
Network for Greening the Financial System, Monetary Authority of Singapore, European Central Bank
A row of buildings surrounded by floodwater
August 12, 2022

Report: European financial stability at risk from climate shocks

A new report from the ECB and ESRB finds that climate-related shocks could be amplified by complex interdependencies, spreading quickly through the European financial system, affecting households, companies and banks.
European Systemic Risk Board, European Central Bank
Weekly roundup
A sign pinned to a white wall with a narrow window to the right and a flowering bush in the foreground. The sign reads 'drinking water' in Arabic and English with a red arrow pointing left.
August 5, 2022

Transition requires ‘massive’ change, warns Omani central bank

Central Bank of Oman warns of extreme weather and water shortages, Bank Al-Maghrib calls for climate “paradigm shift”, the ECB releases its annual environmental statement and more from this week in green central banking.
Central Bank of Oman, Bank Al-Maghrib, Basel Committee on Banking Supervision, Central Bank of Egypt, Bank of England, European Central Bank
Solar panel being installed
July 18, 2022

NGFS directory aims to fill data gaps

The NGFS has created a new directory of climate-related information needs and sources aimed at facilitating disclosures and risk mitigation, as well as filling regulator and financial sector data gaps.
Network for Greening the Financial System
July 6, 2022

SARB outlines climate strategy

The South African Reserve Bank intends to incorporate climate-related risks into its regulatory and supervisory framework and develop monetary policy guidelines for responding to climate change, according to its latest annual report.
South African Reserve Bank, Network for Greening the Financial System
Weekly roundup
Road sign surrounded by flood waters
June 24, 2022

IMF staff warn of ‘climate Minsky moment’

IMF staff warn of a “climate Minsky moment”, Elderson expects banks to meet climate expectations by 2025, a new biodiversity standard is launched and more from this week in green central banking.

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