Central Banks Must Heed Their Own Warnings on Climate Risks
Alexander Barkawi | 13 October 2020
Monetary,
Blog | Tags:
Asset Purchases,
Central Banks,
Climate Risk,
Collateral Frameworks The Central Banks and Supervisors Network for Greening the Financial System (NGFS), a group of more than 70 central banks and financial supervisors across the globe, has repeatedly highlighted that climate risks are financial risks. Its members have also continuously put a spotlight on the
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The Transition to a Sustainable Post-COVID Economy Requires an Urgent Shift in Central Bank Risk Management
Pierre Monnin | 10 July 2020
Monetary,
Blog | Tags:
Central Banks,
Climate Risk,
Covid-19,
Financial Regulation,
Monetary Policy Operations,
Precautionary principle The COVID-19 crisis is profoundly and durably transforming our economies. So will the transition to a low-carbon economy, which is necessary to contain the environmental crisis ahead of us. Shifting our economic system from its current state to a sustainable post-COVID version entails large and
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Shifting Gears: Integrating Climate Risks in Monetary Policy Operations
Pierre Monnin | 20 January 2020
Monetary,
Policy Briefs | Tags:
Asset Purchases,
Central Banks,
Climate Risk,
Collateral Framework,
Credit Risk The assets central banks purchase and accept as collateral are at the core of monetary policy implementation. Risk considerations play a crucial role in the selection of these assets: central banks seek to limit their holdings and eligible collateral to assets that minimize their risk
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Climate Risk and Financial Systems of Latin America: Regulatory, Supervisory and Industry Practices in the Region and Beyond
Gianleo Frisari,
Matías Gallardo,
Chiemi Nakano,
Víctor Cárdenas and
Pierre Monnin | 18 December 2019
Monetary,
Discussion Notes | Tags:
Central Banks,
Climate Risk,
Financial Regulation,
Green Finance,
Latin America In Latin America and the Caribbean (LAC), regional supervisors and regulators have not yet explicitly included nor addressed climate-related risks in binding regulations and/or supervisory measures for the financial sector. This implies significant work ahead for the LAC financial sector to develop effective and complete
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Climate Risks in Financial Assets
Emanuele Campiglio,
Pierre Monnin and
Adrian von Jagow | 4 November 2019
Monetary,
Discussion Notes | Tags:
Asset Prices,
Climate Risk,
Climate Stress Tests This note reviews the empirical evidence available in the academic literature about the impact of climate-related risks on financial assets. It addresses three main questions: does climate change already affect financial asset returns? What is the potential impact of future climate-related costs on financial asset
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