How to Design Environmentally Beneficial Tax Incentives
Angela Köppl and
Margit Schratzenstaller | 4 March 2021
Fiscal,
Blog | Tags:
Carbon Tax,
Climate Change,
Tax Incentives The fight against climate change requires effective economic policy instruments. In addition to environmental taxes, such as a carbon tax, environmentally beneficial tax incentives that favour less polluting consumption and investment activities can be used to promote climate-friendly behaviour. In search of governments around the
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Central Banks Must Upgrade Their Risk Management
Pierre Monnin | 23 November 2020
Monetary,
Blog | Tags:
Central Banks,
Climate Change,
Climate Risk The COVID-19 crisis is a stark reminder of how sharply asset values can shift. Amid a crashing demand for oil and gas, giant energy companies like BP, Chevron and Shell massively wrote down the value of their assets. And those that did not, like Exxon,
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Central Bank Market Neutrality is a Myth
Chiara Colesanti Senni and
Pierre Monnin | 16 October 2020
Monetary,
Blog | Tags:
Asset Purchases,
Central Banks,
Climate Change,
Foreign Exchange Reserves,
Market Neutrality Christine Lagarde, the President of the European Central Bank (ECB), this week raised the critical question whether, in view of market failures, market neutrality should remain the guiding principle driving central banks’ policy portfolio management. Her spotlight on market neutrality underscores growing and overdue scrutiny
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The Day After Tomorrow. Designing COVID-19 Bailouts for a Sustainable Recovery
Agustin Redonda | 4 May 2020
Fiscal,
Monetary,
Blog | Tags:
Bailouts,
Climate Change,
Covid-19,
Employment,
Inequality Governments around the world are taking extraordinary measures to mitigate the economic fallout of COVID-19. Their decisions in the weeks and months ahead will shape our lives for years to come. The fiscal packages that are being adopted as well as the funding that central
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Central Banks and Climate Change
Alexander Barkawi | 21 February 2020
Monetary,
Blog | Tags:
Central Banks,
Climate Change,
Credit Risk,
Governing Finance Central banks must supplement their risk processes to reflect climate risks. This is neither a conflict of objectives nor an overburdening of their mandate, but a fiduciary duty.
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Scenarios for Fiscal Space. Adapting to the Long-Term Challenges of Climate Change
Peter Heller | 28 January 2020
Fiscal,
Discussion Notes | Tags:
Climate Change,
Fiscal Space,
IMF Climate change poses significant challenges for governments seeking to assess their long-run financial condition. Looking forward, climate change is likely to threaten multiple aspects of a country’s economy. Governments will necessarily be required to provide support in adapting to these challenges. While considerable uncertainty exists
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Should Monetary Policy Take Inequality and Climate Change into Account?
Patrick Honohan | 24 January 2020
Monetary,
Discussion Notes | Tags:
Climate Change,
Governing Finance,
Inequality Should central banks take more account of ethical issues, notably the impact of monetary policy actions on the distribution of income and wealth and on efforts to combat climate change, in the design and implementation of the wider monetary policy toolkit they have been using
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Climate Change and Finance: What Role for Central Banks and Financial Regulators?
Emanuele Campiglio,
Yannis Dafermos,
Pierre Monnin,
Josh Ryan-Collins,
Guido Schotten and
Misa Tanaka | 7 September 2018
Monetary,
Blog | Tags:
Central Banks,
Climate Change,
Environment,
Financial Regulation Climate change poses risks to the financial system. Yet our understanding of these risks is still limited. As we explain in a recent paper published in Nature Climate Change, central banks and financial regulators could contribute to the development of methodologies and modelling tools for
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Green Fiscal Reform Was Not Invited to the G20’s Tango Show
Michael Jakob | 1 August 2018
Fiscal,
Blog | Tags:
Carbon Pricing,
Climate Change,
Fossil Fuel Subsidies,
Latin America The Argentine G20 presidency has three concrete priorities: jobs, infrastructure, and food security. Strikingly though, carbon pricing was not invited for Tango. Indeed, the absence of carbon pricing as well as green fiscal reform among the list of priorities within this year’s agenda jeopardizes the
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Scaling up Green Finance: The Role of Central Banks
8 – 9 November, 2018. Co-organized with the Central Banks and Supervisors Network for Greening the Financial System Monetary,
Workshops | Tags:
Central Banks,
Climate Change,
Green Finance The transition to a low-carbon economy requires shifting trillions from brown to green activities. Several reports estimate that more than USD 90 trillion will be needed to adapt our infrastructure in a way that is consistent with the 2°C scenario. Given that the horizon of
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