News
EU parliament tackles ECB’s ‘long-neglected’ secondary mandate
MEPs have adopted a resolution allowing the ECB to align its policies with EU objectives in addition to price stability. This is a golden opportunity to green monetary policy, says Adua Dalla Costa of Positive Money.
Climate part of ECB price stability mandate, says Lagarde
ECB president Christine Lagarde has firmly placed climate change within the central bank’s primary mandate of maintaining price stability, calling for its full incorporation into the central bank’s models, analyses and monetary policy.
NGFS chair calls climate change ‘the mother of all supply-side shocks’
The NGFS chair on climate change supply shocks, the ECB’s Frank Elderson on the biodiversity risks threatening financial markets, an ISSB requirement for scope 3 emissions disclosure and more from this week in green central banking.
Fed paper highlights importance of double materiality
A new paper from Fed supervision committee member Kevin Stiroh has found that double materiality is important for macroprudential objectives and incorporating it into policy would constrain environmentally damaging activities.
Central banks cannot afford to be casual bystanders in the climate crisis
Central banks must reappraise existing orthodoxies in the face of climate change and accept their responsibilities in pursuing a green and socially just transition, say economists Burcu Ünüvar and A Erinç Yelden.
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