Climate change
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
Podcast: Paul Fisher on the future of balance sheet policy
Central banks must think about the composition of their balance sheets, the former BoE official says
BIS launches third green bond fund in Asia
Asian Development Bank and BIS aim to foster issuance of safe green assets
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
G7 says retail CBDC networks should be carbon neutral
Group of Seven outlines 13 retail CBDC principles in new report
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…