European reserve managers express optimism over ESG
Panellists at Central Banking Summer Meetings celebrate sector’s maturity over past decade
Reserve managers from central banks in Europe shared positive stories at the Central Banking Summer Meetings about holding environmental, social and governance-related assets on their portfolios.
One speaker said they had been on a successful decade-long journey to add ESG-related assets to their institution’s balance sheet. Their central bank realised climate transition risks posed a material threat to price stability over the longer term, which the official said had been a wake-up call.
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