The climate crisis is increasingly being addressed in the context of central banks and financial regulators. Below, we have compiled relevant research and policy proposals that have been written over the past few years.This is a non-exhaustive list and there is a lot more research out there. Help us by sharing new research and proposals at firstname.lastname@example.org.
Feeling the Heat: Extreme Temperatures and Price Stability
This ECB paper examines the impact of temperature shocks on prices across 48 countries and finds that temperature plays a “non-negligible role” in driving medium-term price developments. It concludes that “climate change matters for price stability”.
The Effects of Natural Disasters on Price Stability in the Euro Area
This discussion paper from the German Institute for Economic Research examines the impact of natural disasters on price stability in the euro area, and finds significant positive effects on overall headline inflation but diverging results at the sub-index level.
A Silver Bullet Against Green Swans
A European Commission review of the regulatory framework on capital requirements for banks and insurance companies offers an opportunity for a “quick fix” to address climate-related risks to the financial system, finds this ground-breaking Finance Watch report.
Climate Change and Monetary Policy in the Euro Area
This report from the European Central Bank analyses the implications of climate change for the conduct of monetary policy in the euro area. It is one of a number of background papers to the 2021 strategy review, which incorporated climate …
NGFS Climate Scenarios: pushing financial players into taking a risky gamble
This Reclaim Finance report assesses the credibility of the NGFS’ latest climate scenarios for central banks and supervisors, finding them heavily reliant on unproven carbon capture and storage at scale and on the unsustainable use of biomass for energy production.
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