Central banks need short-run climate models – BdF governor

Governments may push central banks into ineffective climate action, Sarb governor warns

Francois Villeroy de Galhau
Francois Villeroy de Galhau
IMF Photo/Kim Haughton

Central banks must urgently develop models to better understand the short-term implications of climate change, the Banque de France governor said on June 1.

Work on longer-term scenario analysis is relatively well advanced, led by the Network for Greening the Financial Sector, François Villeroy de Galhau said. But climate change is already affecting monetary policy at short horizons, Villeroy de Galhau told the 2023 ‘Green Swan’ conference.

The conference was jointly organised by the NGFS, the

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