Policy Briefs and Testimonies

The Basel Committee’s Revised Core Principles for Effective Banking Supervision: Addressing Climate-Related Financial Risks in ASEAN+3

and | 5 June 2024
Monetary, Policy Briefs | Tags: ASEAN+3, BCBS, Climate Risks, Financial Supervision, Macroprudential Policy
This policy brief provides a detailed overview of the guidance that the Basel Committee on Banking Supervision (BCBS) has provided to financial institutions and their supervisors, in relation to assessing, quantifying and managing climate risks under Pillars I, II and III of the Basel framework. ... continue reading

Monetary Policy and Climate Change – Distinguishing Between a Protective and a Proactive Agenda

| 4 June 2024
Monetary, Policy Briefs | Tags: Central Banks, Climate Risks, Governing Finance
Central banks in many economies are striving to take account of climate change in their policies and operations. In this context, the important distinction between a protective agenda versus a proactive agenda is often blurred. ... continue reading

What Should Bank Supervisors Do About Climate Risks?

| 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 ... continue reading

Economic Policies for Affordable, Secure and Clean Energy. Insights from France

| 3 May 2024
Fiscal, Policy Briefs | Tags: Decarbonization, Energy, Fossil Fuel Subsidies, France, Industrial Policy, Tax Expenditures
France has launched a vast transformation of its energy system, with the aim of providing affordable, secure and clean energy. ... continue reading

Aligning Sovereign Bond Markets with the Net Zero Transition: the Role of Central Banks

, , and | 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. ... continue reading