2021: plenty of climate talks, but little practical progress
As the climate and ecological crises continue to accelerate, central banks have made slow progress in addressing their role as calls grow to stop the funding of the destruction of the natural world.
Basel Committee proposes principles for managing climate risk
The Basel Committee has proposed 18 principles to improve climate-related financial risk management by international banks and financial supervisors, including that banks should incorporate climate risks into their capital and liquidity adequacy assessments.
Study prompts calls for fossil fuel capital requirements
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 …
Priorities for the Next Federal Reserve Chair: Assertively Take On Climate-Related Risk
Current Fed Chair Jerome Powell has taken little to no action on climate change and the next Fed chair should adopt a dramatically different and proactive approach to eliminating climate risk from the US financial system, write David Arkush and …
Weekly roundup: South Korean oil & gas financing and the financialisation of food
Banque de France on biodiversity risks, the ECB’s Schnabel on climate change and monetary policy, a new report on South Korean oil & gas financing, a climate assessment of Australian banks, the financialisation of food and more in this week’s …
Weekly roundup: Climate food price inflation in Turkey and ECB protests
Reaction to the IPCC AR6 report, climate and food price inflation in Turkey, NGFS Chair Frank Elderson on patchy data, and large protests outside the ECB headquarters against the central bank’s continued support for fossil fuels.
Study finds NGFS scenarios unrealistic and high risk
The NGFS is gambling with the planet’s future by relying on yet-to-be-invented carbon capture and storage technology deployed at scale in order to justify continued fossil fuel investment, finds a new analysis of the NGFS’ climate scenarios. The Reclaim Finance …
Weekly roundup: Coming US disclosure rules and a new UNFCCC finance pathway
In green central banking this week: mandatory US climate disclosure rules by year end, Banxico’s Governor on climate risk, a new global green finance pathway from the UNFCCC, a plea for empathy for central bankers and more…
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