Tag: Central Banks

China’s Structural Monetary Policy Tools: Objectives, Limitations, Unintended Consequences

 | 7 November 2022
Monetary, Policy Briefs | Tags: Central Banks, China, Targeted Refinancing Lines
Central bank interventions have intended and unintended structural effects. A growing number of monetary authorities are acknowledging these structural implications of monetary policy and have started addressing them more actively. In line with this development, the People’s Bank of China (PBC) has introduced a range ... continue reading

From Dependencies to Environmental Risks for Finance. Taking Next Steps

 and | 9 May 2022
Monetary, Blog | Tags: Central Banks, Environmental Risks, Financial Supervision
Climate-related risks are now widely recognized as a source of financial risks by financial supervisors and central banks worldwide. Estimates of transition risks, which include risks stemming from the transition to a low-carbon economy, have become more granular, thanks in part to improved data availability. ... continue reading

A Dashboard for Biodiversity Risk Metrics

 , and | 24 March 2022
Monetary, Policy Briefs | Tags: Biodiversity Risk, Central Banks
This policy brief calls on central banks and financial supervisors to build and use a dashboard of biodiversity metrics to assess biodiversity risks in terms of both dependencies and impacts. In order for these metrics to become fully operational, they should cover risks for firms ... continue reading

Monetary Policy Operations and Biodiversity Loss

 | 24 March 2022
Monetary, Policy Briefs | Tags: Biodiversity Risk, Central Banks, Climate Change
Biodiversity is declining at unprecedented rates in human history, with growing evidence that this could have significant economic and financial implications. In this regard, biodiversity loss is very similar to climate change: both entail physical risks that could translate into substantial economic and financial losses, ... continue reading

A Guaranteed Win for the Climate: Sustainable Loan Guarantees and Sustainable Loan Guarantee Facilities

 , and | 8 February 2022
Monetary, Blog | Tags: Central Banks, Climate Change, Targeted Refinancing Lines
In order to limit global warming to the levels set in the Paris agreement, an immense amount of additional investment has to be directed into sustainable technologies – a difference of between $610 billion (IEA 2020) and $2 trillion (IRENA 2020) per year as compared ... continue reading

For PBOC’s New Green Lending Tool, Transparency and Verification Are Key

 | 10 December 2021
Monetary, Commentary | Tags: Central Banks, China, Climate Change, Targeted Refinancing Lines
Global efforts to expedite the transition to a sustainable future require a significant shift in financial flows. The institutions governing finance play a vital role in achieving this objective. Central banks stand at the heart of this endeavor and are increasingly rising to the challenge. ... continue reading

Central Banks and Policy Coherence

 23 November 2021 | Online
Monetary, Roundtables | Tags: Central Banks, Financial Regulation, Governing Finance
Modern central banks play an outsized role in our economic development through their central role in both monetary policy and financial regulation. Many are now arguing that central banks should discharge their role in line with public policy on issues such as climate change, greening the ... continue reading

Bridging the Disconnects – From Diagnosis to Action in Addressing Climate-Related Financial Risks

 | 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, ... continue reading

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
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 ... continue reading
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