Climate change
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
Fed will not fight climate change without mandate, Powell says
Elected officials must take lead in policies to green economy, Fed chair argues
Central banks report scant progress on climate risk capabilities
Just 9% of participants have a climate change risk unit, up from 7% last year
Taiwanese central bank unveils climate change strategy
Central bank aims to promote sustainable finance and incorporate climate factors in forecasting
ECB adjusts risk controls with eye on collateral availability
First assessment of climate risk in collateral framework concludes no climate-related changes needed
Currency round-up: Yellen’s signature added to US money
Singapore ends practice of printing new year notes; new coins in Canada and Ghana; and more
Fed’s climate risk guidance splits governors
Consultation on climate risk principles criticised by two Fed governors
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
Costa Rica receives first loan under IMF’s green programme
Country is “excellent candidate” for Resilience and Sustainability Facility, says IMF official
Climate change may have serious effects on natural rate – ECB paper
Monetary policy may need more flexibility to deal with climate and green transition, researchers say
Climate analysis likely understates risk, say FSB and NGFS
Study finds scenario analysis struggles to capture more complicated dynamics
Greener energy mix would foster price stability, says Lagarde
More use of renewables would reduce chance of energy price spikes
ECB sets 2024 climate change deadline for big eurozone banks
Most ECB-supervised banks failing to implement climate change plans, Elderson says
BdF to achieve 1.5°C climate goals by 2026, governor says
De Galhau calls for mandatory climate disclosure, green capital requirements and collective ecological governance
Menon urges policy-makers to take a longer term view
Climate change is “the mother of all supply-side shocks”, MAS chief says
IMF opens long-term lending initiative
Resilience and Sustainability Trust will offer 20-year packages to mitigate long-term problems
Development banks need to change amid global threats – Yellen
“Extreme stress” and global threats demand rethink, says US Treasury secretary
Central Bank of Kenya raises rate and denies FX shortage
New president nominates former governor Ndung’u to become finance minister
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
King Charles to appear on Bank of England notes from 2024
Other Commonwealth central banks have made little comment on changeover
ECB’s green bond plan is insufficient, NGO says
ECB plan shies away from excluding high carbon output companies, says Reclaim Finance
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 hires
Bundesbank vice-president calls for shift to ‘carbon accounting’
Proper calculation of carbon costs will mean firms disclosing private data, Claudia Buch says