Tag: Climate Risk

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

| 29 October 2021
Blog, Monetary | Tags: Central Banks, Climate Risk, Financial Regulation, Macroprudential Regulation
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

Systemic Risk Buffers – The Missing Piece in the Prudential Response to Climate Risks

| 1 June 2021
Monetary, Policy Briefs | Tags: Climate Risk, European Systemic Risk Board, Macroprudential Regulation, Systemic Risks
Climate-related financial risks can potentially destabilize the financial sector. This fact is acknowledged by the major international financial bodies – the Financial Stability Board (FSB), the Bank for International Settlements (BIS), the International Monetary Fund (IMF) – as well as by the Central Banks and ... continue reading

The Case for Climate Objectives in Central Banks’ Targeted Refinancing Operations

| 12 February 2021
Blog, Monetary | Tags: Central Banks, Climate Risk, Monetary Policy, Policy Coherence, Targeted Refinancing Lines
Central banks are making increasing use of targeted refinancing operations to pursue their mandates. However, so far none of them, with a few exceptions in developing economies, has aligned its targeting with the objective of a transition to a low-carbon economy. This must change. Refinancing ... continue reading

Strengthening Climate Risk Metrics – A Roadmap for 2021

23 February 2021 | Online | By Invitation
Monetary, Roundtables | Tags: Central Banks, Climate Risk, Financial Supervision, Monetary Policy Operations, Risk Metrics
Climate risks are financial risks. As such they must be incorporated into all investment decisions, including those by banks, investors and asset managers. They must also become an integral part of central banks’ monetary policy operations, as well as of financial supervision – both on ... continue reading