Central banks report scant progress on climate risk capabilities

Just 9% of participants have a climate change risk unit, up from 7% last year

Central banks have failed to make substantial progress in the development of its institutional capabilities regarding climate change risks.

The share of participating institutions with a climate change risk unit modestly grew from 7% in 2022 to 9% now, according to Central Banking’s Risk Management Benchmarks 2023.

Although most participants said they assess risks stemming from climate change through their risk management and other departments, environmental risks are failing to become a key

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