Network for Greening the Financial System (NGFS)
New BoE climate risk scenarios spark race for extra data
Banks need information from clients or third parties to populate 1,760 stress test variables
NGFS has ‘momentum’, but faces obstacles – Després
Lack of data and frameworks hamper climate mitigation, says Banque de France official
NGFS unveils second set of climate change scenarios
New scenarios use NiGEM macro model and take much more granular approach, officials say
Sizing the benefits and risks of our climate ambition
Fixing climate change is likely to entail substantial risks, write Sarah Breeden and Frank Elderson
Central banks face legal risk over climate – ECB’s Elderson
NGOs could sue central banks for failure to take suitable action over climate change, says NGFS chair
Firms and supervisors must ‘transform’ climate risk management – regulators
Complexity and uncertainty demand major rethink of risk, say ‘Green Swan’ event speakers
Mandatory climate disclosures needed now – senior central bankers
Greening monetary policy operations should also be a priority, policy-makers say
People: Sarah Breeden becomes BoE’s executive director for financial stability
Senior official who has played key role in BoE’S climate initiatives will replace Alex Brazier
ECB officials suggest dropping market neutrality
Isabel Schnabel and Frank Elderson say climate change requires new approach to bond purchases
Greening the central banks
What are members of the NGFS doing to ‘green’ their own operations? Officials from the central banks of Belgium, Canada and Morocco highlight some of their initiatives
Republican senator accuses Fed of politicising research
Toomey demands documents from San Francisco Fed on climate and racial justice studies
NGFS suggests central bank climate policies
Green network advises measures to reduce financial risk and promote decarbonisation
Fed to launch new committee on climate risk
Brainard says body will focus on systemic dangers and warns hazards are hard to forecast
Brainard sets out Fed’s approach to climate risk
Fed board member sets out agenda similar to that of other major central banks
Green finance: new initiatives in China, Europe and Americas
Eurosystem adopts common investment principles; China pushes climate modelling; and more
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
A ‘love-hate’ relationship with ESG screens
Screens seen as first step in adopting ESG practices, so why do so few central banks use them?
Federal Reserve joins NGFS
Seven other organisations join as Trump defeat frees Fed to join green network
Fed joining NGFS would be a ‘game changer’ – Després
NGFS to increase study of monetary policy’s climate implications, head of secretariat says
ECB council gives green light to Frank Elderson’s appointment
Dutch official set to replace Yves Mersch on December 14, but still needs parliamentary backing
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Eurogroup nominates Elderson to ECB board
European Union’s governments and parliament must now consider DNB official’s appointment
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts