Climate risk could affect both financial and price stability – BdF’s Dees
Head of French central bank’s climate economics unit says monitoring climate risks is vital for fulfilling primary mandate
On the sidelines of the June Summer Meetings 2025, Central Banking caught up with Stéphane Dees, head of the climate economics unit at the Banque de France. He discussed the implications for financial stability from both transition and physical climate shocks; how the BdF is improving its monitoring of the risks with the European Central Bank and the Network for Greening the Financial System (NGFS); and the implications for inflation if the green transition does not remain on track.
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