The macroprudential toolbox is already equipped to handle systemic risk and can be adjusted to deal with risks stemming from the climate crisis, says Pierre Monnin from the Council on Economic Policies.
The Financial Stability Board has published its final report on supervisory and regulatory approaches to climate-related risks, calling for a more consistent global approach to managing the effects of global heating.
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.
UK energy firms using a new BoE emergency financing facility will need to reveal the status of their net-zero plans and provide full climate-related financial disclosures.
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.
The Bank of England is to become the lender of last resort to UK energy companies facing liquidity issues, while policy makers discuss a similar role for the European Central Bank.
A new report from the ECB and ESRB finds that climate-related shocks could be amplified by complex interdependencies, spreading quickly through the European financial system, affecting households, companies and banks.
A climate risk survey of Australian financial institutions has found widespread oversight at board level but much weaker performance on climate-related targets and metrics, particularly in the banking sector.
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.
Isabel Schnabel warns of climate effect on rates, the Fed finds lower ratings for high-carbon companies, the Bank of Jamaica expands climate risk supervision 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.
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