Research Archive

Climate change is driving price instability and central banks like the Federal Reserve should include climate in their price stability and inflation work, climate economists say. …

Central banks can harness creative disruption, financial innovation and a climate justice approach to avert global financial crises, as policy experts explain in this paper.

Widespread inaccuracies in flood risk mapping may result in inadequate insurance coverage with banks less likely to lend into areas with inaccurate maps, say economists.

This research report analyses the efforts of major global banks to address their climate-related risks and address climate change.

This report by Positive Money US analyses the role of “fossilflation” in causing inflation and provides policy recommendations to replace the existing framework that solely relies on the Federal Reserve.

Informed by central bankers, this literature review of climate change and inflation studies finds that climatic effects on prices already exist and that climate issues should be incorporated into monetary policy.

US regulators have made significant progress towards addressing climate financial risks over the past year, according to the second iteration of Ceres’ Climate Risk Scorecard. …

This study reviews 40 years of ‘Beige Book’ reporting from the 12 regional US Federal Reserve banks, focusing on their response to climate-related events and offering recommendations to address the growing climate threat to US financial and price stability.

This paper by the Roosevelt Institute and Public Citizen argues that safety and soundness supervision is a mechanism that can be deployed quickly and flexibly to guard against emerging financial risks posed by climate change. Although both of the organisations …

This joint Fed and BoJ paper identifies and analyses all climate-related speeches archived by the BIS from 1997 to 2021, and finds they focus on microprudential supervision and regulation rather than macroprudential policy.

This briefing explores the impact of fossil fuels on US inflation and recessions, and argues that the Fed must support the green transition to meet price stability mandates.