Policy Briefs and Testimonies

Economic Policies for Affordable, Secure and Clean Energy: Insights from the United States

and | 28 May 2025
Fiscal, Policy Briefs | Tags: Energy, Fossil Fuel Subsidies, Renewables, United States
In the United States, a diverse range of policy initiatives, many of which can be implemented at the state and local levels, are available to continue the transition towards an affordable, secure, and clean energy system. ... continue reading

Governing Insurance for Financial Stability and Environmental Sustainability

| 20 December 2024
Monetary, Policy Briefs | Tags: Climate Risks, Environmental Risks, Financial Stability, Insurance, Macroprudential Policy
Despite its links to climate and nature risks (for instance, through insurance against natural catastrophes), the insurance sector has so far received insufficient attention from most policymakers, regulators and supervisors. ... continue reading

It Takes Two to Tango: The Role of Ministries of Finance in Designing Pricing and Non-Pricing Climate Actions

| 4 November 2024
Fiscal, Policy Briefs | Tags: Carbon Pricing, Energy, Fossil Fuel Subsidies, Renewables
This policy brief examines the recent emergence of climate policy packages and their impact on climate, social, financial, and fiscal outcomes. It also recommends steps that Ministries of Finance can take to better understand how to design coherent climate policy packages and facilitate the sharing ... continue reading

Financial Resilience in an Age of Environmental Change: Central Banks and Financial Regulators Feel the Heat

| 16 October 2024
Monetary, Policy Briefs | Tags: Climate Risks, Financial Governance, Financial Supervision, Macroprudential Policy, Systemic Risks
In an era of chronic and acute disruptions, durable price and financial stability will require not just accounting for financial hazards, but also engaging in promoting a structural transition. With time running out and the world approaching critical ecological thresholds, central banks and financial regulators ... continue reading

Principles for Addressing Climate Systemic Risks with Capital Buffers

and | 10 October 2024
Monetary, Policy Briefs | Tags: Central Banks, Climate Risks, Financial Stability, Financial Supervision, Macroprudential Policy, Systemic Risks
Some supervisors have started exploring and assessing the different macroprudential instruments available to address climate systemic risks. Systemic capital buffers emerge as one promising option among the different instruments in their toolkits. ... continue reading

Economic Policies for Affordable, Secure and Clean Energy: Insights from the UK

and | 1 October 2024
Fiscal, Policy Briefs | Tags: Energy, Fossil Fuel Subsidies, Renewables, United Kingdom
Transitioning to a more affordable, secure and clean energy system is a key priority for the UK government. Elected in July 2024, the new government led by Prime Minister Keir Starmer aims at making the country a “clean energy superpower”. ... continue reading

Leapfrogging to a New Energy Future: Economic Policies for Affordable, Secure and Clean Energy in Ukraine

and | 24 July 2024
Fiscal, Policy Briefs | Tags: Energy, Fossil Fuel Subsidies, Renewables, Ukraine
With well-designed reforms, international support, private investment – and, crucially, peace – Ukraine can leapfrog to a sustainable energy future. At present, decisionmakers in the energy sector are fighting day-to-day battles to keep the lights on and houses warm. Winning these daily battles and setting ... continue reading

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
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