With evidence piling up of the threat posed by climate change, central banks are under pressure to act. Experts at an event in London on March 19 said central banks could and should take much more drastic action.

The event, held under the Chatham House rule, brought together central bankers, regulators, academics and members of the private sector to debate what central banks could do to support a transition to a “green” economy.

One academic argued that central banks create “brown money” – the