Contributor: Pierre Monnin

Aligning Central Bank Refinancing Operations with the G20 Agenda

and | 6 October 2021
Monetary, Policy Briefs | Tags: Central Banks, Climate Risk, G20, Targeted Refinancing Lines
Since the Pittsburgh Summit in 2009, G20 leaders have repeatedly highlighted inclusive growth and environmental protection as core objectives in their joint declarations. With the widening of economic inequalities and the acceleration of climate change and biodiversity loss, their calls for action have gained further ... continue reading

ECB and Climate Change: The Direction is Clear – But Ambition and Speed are Lacking

| 7 June 2021
Blog, Monetary | Tags: Central Banks, Monetary Policy Operations, Sustainability
All public institutions urgently need to address the colossal challenges posed by climate change. Central banks are no exception, and their representatives are well aware of this. Jens Weidmann, President of the Deutsche Bundesbank, for example, is convinced "that we can all do more to mitigate ... continue reading

Systemic Risk Buffers – The Missing Piece in the Prudential Response to Climate Risks

| 1 June 2021
Monetary, Policy Briefs | Tags: Climate Risk, European Systemic Risk Board, Macroprudential Regulation, Systemic Risks
Climate-related financial risks can potentially destabilize the financial sector. This fact is acknowledged by the major international financial bodies – the Financial Stability Board (FSB), the Bank for International Settlements (BIS), the International Monetary Fund (IMF) – as well as by the Central Banks and ... continue reading

Climate Financial Risks: Assessing Convergence, Exploring Diversity

, and | 9 December 2020
Discussion Notes, Monetary | Tags: Climate Risk, Financial Supervision, Monetary Policy Operations, Risk Metrics
Climate risks are now fully recognized as financial risks by asset managers, investors, central banks, and financial supervisors. As a result, the integration of climate risk metrics into risk management processes is moving up agendas worldwide. In that context, a rapidly growing number of market ... continue reading

Central Banks Must Upgrade Their Risk Management

| 23 November 2020
Blog, Monetary | Tags: Central Banks, Climate Change, Climate Risk
The COVID-19 crisis is a stark reminder of how sharply asset values can shift. Amid a crashing demand for oil and gas, giant energy companies like BP, Chevron and Shell massively wrote down the value of their assets. And those that did not, like Exxon, ... continue reading