Prudential Transition Plans
Prudential transition plans could offer a technical solution to address some of the challenges of integrating transition risks into the prudential framework, say climate finance experts.
Climate-related Systemic Risks and Macroprudential Policy
Macroprudential policy is a ‘natural’ starting point to address systemic climate risks, say economists, and systemic risk buffers and exposure limits are two promising options.
Economic Impacts of Climate Change
Based on input from 48 global banks and investors, this report introduces three new climate-driven macroeconomic shock scenarios, exploring their economic implications using a commonly used short-term global econometric model.
Acute Climate Risks in the Financial System
This paper finds that top-down climate risk approaches, such as those used by the NGFS, are of limited value at the granular scale relevant to the financial sector.
The Macroprudential Challenge of Climate Change
This joint ECB/ESRB report examines how climate shocks can affect the European financial system, identifies transmission channels and amplifiers of climate risk and finds significant threats to European financial stability.
Climate Risk Scorecard 2022
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. …
How Regional Federal Reserve Banks Can Contend with Economic Risk from Climate Change
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.
Aligning Financial and Monetary Policies with the Concept of Double Materiality
This paper from six Banque de France authors outlines between organisational risk, systemic risk and post risk rationales for the use of double materiality, suggesting policy implications and challenges for each.
Ten Financial Actors Can Accelerate a Transition Away from Fossil Fuels
This study examines the equity ownership of the world’s unburnable fossil fuel reserves, finding that just ten organisations own nearly half of all reserves and have a disproportionate influence over the fossil fuel industry.
Looking Over the Horizon
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 …
Central Bank Communication About Climate Change
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.
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