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.
Scenario analysis may ‘understate’ climate risks, warn FSB and NGFS
A joint report from the FSB and NGFS has warned that current climate scenario analysis exercises “may understate” climate exposure by failing to account for second-round effects, non-linearities and other large sources of climate risk.
TNFD publishes nature-related scenario analysis proposal
A TNFD nature-related scenario analysis proposal, an IMF warning to Caribbean central banks, new ISSB climate disclosure rules, a BoE protest and more from this week in green central banking.
New York Fed report recommends lower rates for energy efficiency
The New York Fed on funding energy efficiency renovations, the BdF’s deputy governor on tipping points and transformative change, a prototype BIS green bond platform, and more from this week in green central banking.
Republican attacks prompt fierce defence of US climate risk measures
US financial institutions and regulators have defended measures to address climate-related financial risks, following the latest round of attacks from conservative lawmakers.
Six banks to participate in Fed climate analysis
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.
QE-funded deforestation linked to financial instability
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.
‘Fossilflation’ an opportunity to avoid disorderly transition, says NGFS
A new NGFS paper has argued that increased fossil energy prices is acting as an involuntary price on carbon, offering a “narrow but unique opportunity” to accelerate the transition to net zero.
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