Banks look able to bear the losses resulting from climate change in part by passing them onto their customers, the Bank of England has reported following its first climate stress test.
Isabel Schnabel warns of climate effect on rates, the Fed finds lower ratings for high-carbon companies, the Bank of Jamaica expands climate risk supervision and more from this week in green central banking.
Climate-related financial risks remain “greatly underestimated”, fossil fuel assets must become stranded and stronger regulation is needed, finds the latest IPCC climate mitigation assessment.
Some analysts say current exercises fall short of the comprehensive climate stress tests that are required, and warn it could be many years before their benefits are felt.
Further delay in concerted global action will miss a brief and rapidly closing window to secure a liveable future, warns the IPCC in its latest assessment of global climate change.
A climate risk stress test of major Chinese banks has shown a growing risk of defaults on loans to high-carbon sectors faced with rising emissions costs, as well as the potential for stranded assets.
The inflation threat from a disorderly transition, Bank of England bank stress tests, a new Bank of Italy climate hub, a Bank of Russia climate conference and more from this week in green central banking.
The ECB has launched its first climate risk stress test of eurozone banks, along with details of the climate-related scenarios against which it expects banks to assess their preparedness.
A climate risk stress test of Hong Kong banks, new regulations for Malaysian banks, a review of research on monetary policy and climate risk and more from this week in green central banking.
A surge in green finance regulation, protests at Bank of England inaction on bank funding of fossil fuels, sustainable finance statistics and calls for the Basel Committee on Banking Supervision to publish global guidance on climate risk.
A new study reveals that the responsible investment policies of most G20 central banks are either non-existent, opaque or failing to consider environmental impacts.
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