Drought poses increasing risk for Brazil’s financial system
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.
Green central banking goes mainstream, but words aren’t yet matched by actions
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. …
Eurosystem tops latest Green Central Banking Scorecard
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.
Scenario analysis may ‘understate’ climate risks, warn FSB and NGFS
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.
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.
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