Research Archive
Central Banking and Climate Action
Although the PBoC operates within China’s unique economic, political, and financial environment, there is considerable scope for its policies to be replicated elsewhere.
Realising Central Banks’ Climate Ambitions Through Financial Stability Mandates
Effective green central banking governance should be based on a synthesis between monetary and macroprudential policymaking, finds this study of G20 climate-related policies and mandates.
Greening Monetary Policy: Evidence from the People’s Bank of China
The PBoC’s decision to accept green bonds as collateral resulted in a significant and persistent reduction to the yields of those bonds, finds this paper from the Banque de France.
Out of the Window? Green Monetary Policy in China
This paper examines the use by Chinese monetary and financial authorities of ‘window guidance’, a tool designed to encourage financial institutions to expand credit to sustainable activities and curb lending to heavy-polluting industries.
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