In its latest annual report, the Banco de España has identified “moderate” short term climate-related risks facing Spanish financial institutions, rising dramatically as physical risks materialise.
A Nobel laureate says supervisors must understand climate uncertainty, systemic risk buffers and climate risk, an FSB call for transparency, cooperation and a holistic perspective, and more from this week in green central banking.
The Financial Stability Board has launched a public consultation on supervisory and regulatory approaches to climate-related risks, seeking feedback on a report and recommendations.
The ECB on carbon price risk, a new UK transition plan taskforce, calls for a precautionary approach to address radical uncertainty and more from this week in green central banking.
The ECB has supported EU proposals on green capital requirements and transition plans, saying it is already empowered to implement climate-related systemic risk buffers.
Almost a third of respondents have encountered climate denial among financial sector decision-makers, with 93% saying they had encountered negative attitudes towards climate action.
IPCC warnings of a systemic financial stability risk from climate change strengthens the case for qualitative prudential measures under the existing Basel framework, says a leading thinktank.
A senior BoE economist has called for lenders to disclose the ratio of energy-efficient mortgages they hold, allowing investors and regulators to assess exposure to energy price shocks and climate-related transition risks.
Gasflation and ‘the energy of freedom’, a ‘climate Minsky moment’, how climate denial has left the Fed’s board as a ‘ghost ship’ and more from this week in green central banking.
ECB executive board member Frank Elderson has said that the inclusion of climate and environmental risks in the central bank’s supervisory review and evaluation process “will ultimately influence banks’ minimum capital requirements”.
The ECB has launched its first climate risk stress test of eurozone banks, along with details of the climate-related scenarios against which it expects banks to assess their preparedness.
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