Research Archive
Macroprudential Policies for Addressing Climate-related Financial Risks
Given the material and systemic risks posed by climate change, there is a strong case for adjusting macroprudential policies, according to this FSI research. …
How Do Climate-related Conditions Affect Norwegian Enterprises?
Norwegian businesses say that climate related conditions are affecting their operations and raising costs, but the majority also report positive overall effects of transition due to growth in investment and opportunity.
The Stumbling Block in ‘the Race of Our Lives’
The impacts of bottlenecks expected in the supply of metals critical for the low-carbon transition are explored in this paper, which also considers what this means for central banks’ core mandates.
The Effects of Climate Change on the Natural Rate of Interest
This working paper by the ECB says climate change may reduce natural interest, creating serious issues for monetary policymaking. The authors say an orderly transition would mitigate this, and central banks should address carbon biases to meet mandates.
Supporting the Just Transition
This report discusses: the risks and opportunities of net zero, the impact of inequality on monetary policy, and the action needed for central banks implementing just transition strategies.
NGFS Scenarios for Central Banks and Supervisors
The NGFS has released the third iteration of their climate scenarios, updating them with the latest economic and climate data, current national policy commitments and improved modelling of physical risks. …
Transition Versus Physical Climate Risk Pricing in European Financial Markets
This ECB study analysed climate-related news stories to build new climate risk indicators and compare them against equity returns, revealing that climate risk premiums have existed since 2015.
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