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.
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.
Global investors and policy makers are closely watching Australia’s climate change policies, according to Philip Lowe of the Reserve Bank of Australia.
A cross-party group of 43 British members of parliament have written to Bank of England (BoE) Governor Andrew Bailey encouraging him to work with the Treasury and other authorities to align UK finance with the UK government’s climate goals.
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 …
Civil society groups from 32 organisations have sent an open letter to US President Joe Biden asking him to replace Jerome Powell as US Federal Reserve Chair due to his weak leadership on addressing climate change and its effects on …
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 …
Danish central bank on climate and price stability, new EU climate reporting standards, the ‘Green Flamingo’ of emerging markets and how Latin American central banks failing on climate change. This and more from this week in green central banking…
Nobel Prize-winning Economist and former White House Advisor Joseph Stiglitz has called on President Joe Biden not to re-nominate US Federal Reserve Chair Jerome Powell because of his reticence to act on climate change. In a Reuters interview published yesterday, …
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