What Should Bank Supervisors Do About Climate Risks?
Mark E. Levonian | 4 June 2024
Monetary,
Policy Briefs | Tags:
Central Banks,
Climate Risks,
Financial Supervision,
Governing Finance This paper considers the role of bank supervisory authorities with respect to climate change. The emerging consensus is that financial supervisors and regulators must address climate-related risks to banks and other financial institutions. The paper discusses potentially productive avenues for doing that in the near
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Technical Standards in Services and Trade Governance
Hildegunn Kyvik Nordås | 8 May 2024
Trade,
Blog | Tags:
Artificial Intelligence,
Digital Economy,
International Standards,
Services Trade,
Trade Governance Standards can potentially resolve the trade-off between regulatory certainty and space for innovation, provided they are recognized and accepted by law enforcement bodies.
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Economic Policies for Affordable, Secure and Clean Energy. Insights from France
Patrick Lenain | 3 May 2024
Fiscal,
Blog | Tags:
Decarbonization,
Energy,
Fossil Fuel Subsidies,
France,
Industrial Policy,
Tax Expenditures Successive French governments have reformed the country’s energy sector, with notable achievements in maintaining affordable access, ensuring supply security, and reducing carbon emissions. However, the energy crisis triggered by Russia's invasion of Ukraine in 2022-23 has underscored the imperative for a thorough revision of France's
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A Step into the Right Direction: The India-EFTA Trade Agreement
Oliver Braunschweig | 1 May 2024
Trade,
Blog | Tags:
EFTA,
Global Value Chains,
India,
Intellectual Property Rights,
Trade Agreements The new trade agreement between India and EFTA States includes commitments on an important yet often overlooked form of trade restrictions: local content requirements.
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Governing AI for Humanity: Thoughts on the UN AI Advisory Body Interim Report
Hildegunn Kyvik Nordås | 8 April 2024
Trade,
Blog | Tags:
Artificial Intelligence,
Data Governance,
Innovation The awesome capabilities of AI applications have raised deep concerns about the future of work, democracy and even humanity itself - and a sense of urgency for establishing effective governance at all levels and use cases.
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The Role of the Zambian Legislature in Tax Expenditure Policy
Ferdinand Chikambwe | 2 April 2024
Fiscal,
Blog | Tags:
Parliaments,
Tax Expenditures,
Zambia The Zambian Government annually presents the National Budget, including tax measures and some incentives, to the National Assembly. In addition to TEs granted through budget policy, other incentives are granted through various government institutions...
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Striking a Balance on Local Content Requirements in Trade Agreements: The Case of the Energy Sector
Oliver Braunschweig | 15 March 2024
Trade,
Blog | Tags:
Energy,
Global Value Chains,
Renewables The new trade agreement between India and EFTA States includes commitments on an important yet often overlooked form of trade restrictions: local content requirements.
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Aligning Sovereign Bond Markets with the Net Zero Transition: the Role of Central Banks
Pierre Monnin,
Joseph Feyertag,
Nick Robins and
Alexander Wollenweber | 14 March 2024
Monetary,
Policy Briefs | Tags:
Central Banks,
Climate Risks,
Debt,
Financial Supervision Aligning sovereign bonds with net zero requires coordinated action by several stakeholders across the financial system. National governments are first in line to act but central banks have a unique opportunity to make a meaningful contribution.
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Why a Deal in the WTO Negotiations on E-Commerce is a “Must-Have” for MC13
Hildegunn Kyvik Nordås and
Jane Drake-Brockman | 13 February 2024
Trade,
Blog | Tags:
Artificial Intelligence,
Digital Economy,
WTO The internet is fundamentally dependent on openness to cross-border data flows. But many governments are regulating to constrain international data transfers - including under a banner of data sovereignty.
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Rationalizing the Use of Tax Expenditures – The Role of Parliamentarians
Sofia Berg | 31 January 2024
Fiscal,
Blog | Tags:
Parliaments,
Tax Expenditures The role of parliaments is vital with regard to the monitoring and control of tax expenditures, both as part of the regular budget cycle and ad hoc, if required.
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Advancing Scrutiny: 55 Year of Tax Expenditures Reporting in the United States
Jane G. Gravelle | 14 December 2023
Fiscal,
Blog | Tags:
Parliaments,
Tax Expenditures,
United States The normal baseline currently used to define tax expenditures by the US Treasury remains fairly close to an economic measure of income, but with some differences. Tax expenditures include employee fringe benefits and imputed income on rents on owner-occupied housing, but not free financial services.
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Net Zero Central Banking in Africa’s Diverse Economies: Challenges, Opportunities and Policy Options
Reuben Wambui,
Joseph Feyertag and
Pierre Monnin | 29 November 2023
Monetary,
Policy Briefs | Tags:
Africa,
Central Banks,
Climate Risks,
Financial Stability,
Inequality Africa’s economies are contending with a diverse set of challenges and opportunities in relation to building low-carbon, green economies and the transition to net zero emissions. Central banks can play a pivotal role in enabling the green transition in Africa.
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Building Climate Resilient Portfolios. The Case of the Bank of Japan’s Index-Linked ETF Holdings
Julia Bingler and
Nemo Krüger | 28 November 2023
Monetary,
Policy Briefs | Tags:
Asset Purchases,
Central Banks,
Climate Risks,
Governing Finance,
Japan Climate risks are financial risks that must be accounted for across all central bank operations and invested asset classes. Like for any other financial institution, all assets that central banks own – e.g., equities, bonds, and asset-backed securities – are exposed to climate risks.
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