Network for Greening the Financial System (NGFS)
A new climate of change
Central banks are warming up to address climate risks just as US interest cools
Central banks need short-run climate models – BdF governor
Governments may push central banks into ineffective climate action, Sarb governor warns
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
Costa Rica receives first loan under IMF’s green programme
Country is “excellent candidate” for Resilience and Sustainability Facility, says IMF official
People: new climate risk officer at OCC, Sama hires CBDC head, and more
Saudi Central Bank names CBDC director; Dominican Republic and Tunisia announce senior appointments
NGFS moving from climate ‘awareness to action’ – MAS’s Menon
Net-zero transition has been “tepid” despite the limited time remaining, MAS chief says
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
How to #GreentheCBs
Invesco‘s Claudia Castro and Wim Vandenhoeck explore how central banks can strike a balance between innovation and disruption with their sustainability agendas.
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
NGFS’s climate stress tests bolstered by new macroeconomic modelling
NiGem model will help central banks better understand economic transmission channels
Bank of Mexico creates environmental and social risk department
Central bank’s attitude to environmental risk might put it at odds with government, says commentator
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
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, new NGFS scenarios show. Firms and supervisors must seize this opportunity to adapt, 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