Climate change
PBoC to score largest banks’ green finance efforts
Chinese central bank aims to spur growth in environmental investing
Policy-makers debate central banks’ role in tackling climate change
Some see central banks as important co-ordinators; others warn they could overreach
BoE outlines climate stress tests
Tests planned as “learning exercise” and will not be used to set capital requirements
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
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
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
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Are we entering the polymer age?
CCL Secure explores the security and anti-counterfeit benefits of polymer banknote technology. As this developing technology reveals its advantages over traditional paper-based banknotes, could we soon see a shift in the status quo in polymer’s favour?
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
EBA finds ‘big differences’ in use of EU green taxonomy
Risk-mapping exercise finds average “green asset ratio” of 8%
Bank of Canada voices concern over house prices
Financial regulator imposes minimum rate on new uninsured mortgages
BoE unveils plan to ‘green’ its corporate bond-buying
Hauser says BoE will “tilt” bond purchases and might insist on full climate disclosure by issuers
BoE’s Breeden urges financial firms to run climate scenarios before ‘time runs out’
Firms need to re-examine risk models to ensure all transmission channels are considered
ECB officials suggest dropping market neutrality
Isabel Schnabel and Frank Elderson say climate change requires new approach to bond purchases
Think-tank urges Fed to tackle climate risk with capital regulation
Paper calls for more urgent Fed action to address risks in bank and non-bank sectors
Chilean central bank measures country’s carbon footprint
Study aims to create methodology to assess emissions and develop plan to cut footprint
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
Curbing booms could cut carbon emissions – BIS paper
Overheating economies can misallocate resources to carbon-heavy industry, authors find
Green instruments added as collateral for lending facilities – PBoC governor
China’s central bank will launch tools to encourage emission reductions
ESG investment must grow to achieve zero carbon emissions
Action is needed to scale up green investment and tackle information issues, writes Sayuri Shirai
Central banks need more data and better measures on climate – BCBS
Basel Committee may re-evaluate risk framework to account for effects of climate change