Few central banks cover environmental risk
Central banks list environmental risk as a minor source of risk
Climate risks can directly affect monetary policy and financial stability. However, most central banks do not have environmental risk management units, the Risk Management Benchmarks 2022 show.
Central Banking asked officials from 30 central banks if their institutions covered environmental risks under a centralised risk unit. Of 20 central banks with a centralised risk unit, nine said theirs covers environmental risk – 30% of all respondents.
In a follow-up question, just 7% of 29 central
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