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.
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 publication is the first of its kind released by a US financial supervisor and may represent an initial step towards introducing a comprehensive climate stress-testing regime. …
The ECB has released results of an economy-wide climate stress test examining climate impacts on four million firms and 1,600 euro area banks. It finds the costs of climate change far outweigh the costs of a low-carbon transition.
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.
US House Democrats have introduced a bill that would require the Federal Reserve to force large banks to align their financing of fossil fuel and deforestation activities with science-based emissions targets.
A new study has found that a substantial stranding of fossil fuel assets is necessary if the Paris Agreement target is to be met, prompting civil society organisations to call for risk weighting and other capital requirements to be introduced …
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