Climate change
BIS paper finds flaws in green taxonomies
“Taxonomy of taxonomies” proposes tackling weaknesses in categorisation of green assets
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Cubero calls for expanded IMF role
Costa Rica governor endorses Resilience and Stability Trust proposal
IMF lays out role for investment funds to green economy
Global Financial Stability Report estimates $20 trillion will be needed over the next two decades
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
ECB climate stress test reveals uneven risks across eurozone
First step in ‘climate roadmap’ assesses 1,600 banks and over four million firms
RBI steps up work on climate change
Sustainable Finance Group will “spearhead” climate-related supervision and regulation
Australia’s banks can weather climate risk – RBA research
Climate change will have an impact on mortgages and loan-to-value ratios, research shows
Bank of Finland targets 2050 carbon neutrality for investments
Greening FX reserves will only be possible if countries meet their Paris climate goal, central bank says
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director, as well as a thought-provoking list of issues that may appear with greater frequency on future board agendas
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead, from debt and inflation to negative rates and the dangers of ‘mission creep’
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Swiss government sets parameters for climate reporting
Guidelines intended to bind large Swiss companies from the 2023 financial year
BIS and HKMA start work on green bond infrastructure project
Digital platform based on blockchain aims to improve green bond market’s transparency
From Covid‑19 recovery to a greener economy
BNP Paribas asks, in a world challenged by the Covid‑19 pandemic and empowered by recovery from it, what’s next for the central banking sector? Also discussing how banks and central banks can collaborate to encourage sustainable growth and build a better…
Thai regulators aim to create ‘green’ taxonomy
Central bank and other regulators pledge to encourage sustainable investment
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
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
PBoC to support green finance with low-cost funding
Bank says it will extend its tougher regulation of crypto assets
Disclosures and taxonomies vital for climate risk understanding – RBNZ official
Central banks also need to ensure staff are skilled in climate risk
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Central Bank of Hungary adopts green monetary policy
Policy sees central bank launch green mortgage bond purchase programme
ECB bond holdings exposed to nature-related financial risks – paper
Study warns corporate bond holdings rely on ‘ecosystem services’ and contribute to biodiversity loss