‘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.
Ukraine crisis puts world in disorderly climate transition scenario, says NGFS’s Menon
The fallout from Russia’s invasion of Ukraine may put the world in a disorderly climate transition scenario, the chair of the NGFS has said.
ECB paper quantifies effects of green QE
An ECB paper on green quantitative easing, the Bundesbank’s first climate-related disclosure, a warning that higher rates won’t solve fossil fuel inflation and more from this week in green central banking.
Report: European financial stability at risk from climate shocks
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.
Yellen comments prompt defence of FSOC’s climate role
Civil society express deep concerns about Yellen’s comments on the FSOC, India’s banks lags behind on climate risk, and more from this week in green central banking.
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.
What regulators should take away from the ECB climate stress test
Regulators should be mindful of the limitations of the European Central Bank’s climate stress test and beware of a too-big-to-fail scenario once climate risks start materialising, argues Julia Symon of Finance Watch.
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