Policy cannot handle effects of climate change – Slovak official
Authorities will be unable to fulfil mandates if they ignore impact, bank’s head of climate change warns
Central banks may not be able to “effectively fulfil their mandate” if they discount the effects of climate change on the financial system, a senior official from the National Bank of Slovakia has warned.
In a blog post on June 8, Roman Vasif, the bank’s head of climate change, detailed what central banks were doing to analyse the effects of extreme weather events.
Monetary authorities, in his view, had a role to “ensure that money retains its value and that the financial system can absorb
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