The New Global Financial Pact in Paris failed to deliver “concrete and ambitious action”, despite reaching agreements on US$100bn worth of special drawing rights.
The IMF’s managing director urges leaders to find debt relief solutions for the global south and consider debt-for-climate swaps ahead of a summit to discuss a global financial pact.
Civil society groups are questioning the effectiveness of rate hikes, instead calling for targeted support to address fossil fuel dependency, climate change and other root causes of supply shock inflation.
Details of the Fed’s climate scenario analysis exercise, an ECB study on inflation and the green transition and more from this week in green central banking.
Inflation associated with fossil fuel dependency and changing weather patterns requires ECB action if it is to fulfill its mandate, finds a new report.
The BoE should target its credit policy to offer low cost loans to banks lending for energy efficient building retrofits and other green projects, according to a new report from a leading UK thinktank.
Faced with rising fossil fuel inflation and growing energy insecurity, civil society groups are calling on the ECB to incentivise bank lending for energy-saving housing renovations through the introduction of a green discount rate.
US Supreme Court ruling prompts fears over SEC climate disclosures, Riksbank calls for ban on cryptocurrency “proof of work”, and more from this week in green central banking.
ECB president Christine Lagarde has said she hopes the central bank can introduce a green targeted lending facility, but has indicated the issue may be controversial among the governing council.
Climate-related scenarios and physical shocks, a call for ECB targeted green financing, the MNB’s climate-related financial disclosure, and more from this week in green central banking.
Faced with huge margin calls, energy companies and traders are lobbying central banks for “emergency liquidity funding” for banks clearing energy trades, says the European Federation of Energy Traders.
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