Drought poses increasing risk for Brazil’s financial system
A growing drought risk to Brazil’s financial stability, a climate skills deficit among central bankers, a new initiative on data gaps and more from this week in green central banking.
Eurosystem tops latest Green Central Banking Scorecard
Work to green the ECB’s monetary policy has put Eurosystem central banks at the top of the 2022 Green Central Banking Scorecard as China, the Us, Brazil and India all fall in the rankings.
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.
ESMA calls for double materiality in ISSB standards
The European Securities and Markets Authority calls for double materiality in global sustainability standards, a progress report from the Financial Stability Board, sustainability guidance from the Philippines central bank and more from this week in green central banking.
Green prudential regulation: a comparison tool for risk-weighted assessments
How can risk-weighted assessments be designed to include climate and environmental factors? Economists Lorenzo Esposito, Giuseppe Mastromatteo and Andrea Molocchi propose 10 principles for effective green prudential regulation.
Market efficiency mandate requires climate action, say ECB figures
A group of leading ECB figures have argued that demonstrated market flaws surrounding emissions and climate change require corrective action to fulfil the central bank’s mandate of “favouring an efficient allocation of resources”.
EBA chair calls ESG risk a ‘clear and present danger’
European Banking Authority highlights ESG to banks, a study finds Paris target will require stranded assets, war and the reality of a disorderly transition, and more from this week in green central banking.
Call for central banks to use own climate risk ratings
A Reserve Bank of New Zealand consultation on climate and monetary policy, a call for central banks to use their own climate credit ratings, a Fed review of central bank climate communications and more from this week in green central …
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