Bridging the Disconnects – From Diagnosis to Action in Addressing Climate-Related Financial Risks
Alexander Barkawi | 29 October 2021
Monetary,
Blog | Tags:
Central Banks,
Climate Risks,
Financial Regulation,
Macroprudential Policy
When the Financial Stability Oversight Council (FSOC) published its Report on Climate-Related Financial Risk last week, it triggered a wide range of reactions. Some praised it as a critical step in moving climate risks up the agenda amongst FSOC members such as the US Treasury,
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Aligning Central Bank Refinancing Operations with the G20 Agenda
Chiara Colesanti Senni and
Pierre Monnin | 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
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ECB and Climate Change: The Direction is Clear – But Ambition and Speed are Lacking
Pierre Monnin | 7 June 2021
Monetary,
Blog | 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
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Systemic Risk Buffers – The Missing Piece in the Prudential Response to Climate Risks
Pierre Monnin | 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
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Governing Finance – The Case for a New Playbook
Alexander Barkawi and
Simon Zadek | 7 April 2021
Monetary,
Blog | Tags:
Central Banks,
Climate Change,
Digital Finance,
Employment,
Financial Supervision,
Governing Finance,
Inequality,
Sustainability
Finance impacts all aspects of our lives, from our economies to social cohesion to the ecological systems we depend on for our very survival. As a result, the implications of how we govern finance are fundamental, and ultimately existential. Yet, alarmingly, we are not talking
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Governing Finance for Sustainable Prosperity
Alexander Barkawi and
Simon Zadek | 7 April 2021
Monetary,
Discussion Notes | Tags:
Central Banks,
Climate Change,
Digital Finance,
Employment,
Financial Supervision,
Governing Finance,
Inequality,
Sustainability
Finance impacts all aspects of our lives, from our economies to social cohesion to the ecological systems we depend on for our very survival. As a result, the implications of how we choose to govern finance are fundamental, and ultimately existential.
Whether we succeed in improving
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“If Something Cannot Go on Forever, It Will Stop“
William White | 1 April 2021
Fiscal,
Monetary,
Policy Briefs | Tags:
Covid-19,
Debt,
Democracy,
Environment,
Financial Stability,
Health Systems,
Inequality,
International Cooperation,
Resilience
“If something cannot go on forever, it will stop.” This famous observation was made by Herb Stein, Senior Fellow at the American Enterprise Institute. It became famous largely because it was just that, obvious. Yet, what is no less obvious is that public policy is
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Monetary Policy Operations and Financial Regulation to Green the Financial System
22 February, 2021 18.00 CET | Online
Monetary,
Panel | Tags:
Asset Purchases,
Financial Regulation,
Monetary Policy Operations,
Targeted Refinancing Lines
The panel discussion will explore policy options – large-scale asset purchases, long-term refinancing operations, collateral framework and prudential regulation – to green the financial system, as well as debate their feasibility and effectiveness.
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The Case for Climate Objectives in Central Banks’ Targeted Refinancing Operations
Chiara Colesanti Senni | 12 February 2021
Monetary,
Blog | Tags:
Central Banks,
Climate Risk,
Policy Coherence,
Targeted Refinancing Lines
Central banks are making increasing use of targeted refinancing operations to pursue their mandates. However, so far none of them, with a few exceptions in developing economies, has aligned its targeting with the objective of a transition to a low-carbon economy. This must change. Refinancing
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Strengthening Climate Risk Metrics – A Roadmap for 2021
23 February 2021 | Online | By Invitation
Monetary,
Roundtables | Tags:
Central Banks,
Climate Risk,
Financial Supervision,
Monetary Policy Operations,
Risk Metrics
Climate risks are financial risks. As such they must be incorporated into all investment decisions, including those by banks, investors and asset managers. They must also become an integral part of central banks’ monetary policy operations, as well as of financial supervision – both on
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