Major central banks call for concerted action on climate change

“Transition risks” are the most challenging for financial institutions, Carney says

Bank of England governor Mark Carney
Mark Carney, Bank of England

Mark Carney and Francois Villeroy de Galhau have called for action by financial experts to deal with the risks of climate change, at the first conference hosted by a high-level group of central banks and supervisors dedicated to the subject.

The Central Banks and Supervisors Network for Greening the Financial System, or NGFS, held its inaugural international climate risk conference for supervisors at the Netherlands Bank on April 6. The group, which launched in December, is headed by Frank

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