Climate change
IMF weighing state-contingent debt for Caribbean, says Lagarde
IMF managing director says fund is re-evaluating lending parameters for Caribbean region
Carney calls for financial sector to face up to climate risks
Outlook is “concerning” as losses from extreme weather hit record levels, BoE governor says
Balance sheet adjustments needed to combat climate change, says Finland’s Rehn
Finnish governor urges central banks to do more around the issue, including gathering more data to better forecast risk
FCA sets out stance on climate change
Firms may be asked to publicly disclose how they manage climate risk
BoE to demand senior financiers tackle climate risks
Proposals from PRA would hold senior managers accountable for climate change risks, and capital surcharges may follow
Nordhaus and Romer win economics Nobel
Economists specialising in long-run macroeconomic modelling win 2018 Nobel Prize
‘Momentum building’ behind financial response to climate change
FSB welcomes progress on disclosures; BoE report finds many UK banks are facing up to the risks
Long-termism is necessary for a stable future – RBNZ’s Orr
Contemporary societies face challenges demanding focus on sustainable development, says governor
Central banks could do more to tackle climate change – paper
Central banks may be mispricing assets due to climate change risk, paper argues
US could lose a third of growth to climate change – Richmond Fed article
Authors warn economic damage could be much more widespread than typically assumed
Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy and calls for better debt management infrastructure
Irish SWF set to become first to divest from all fossil fuels
Fund has in the past argued “engagement” is more effective than divestment
Bank of England should have ‘green’ mandate – report
Activist group says BoE should be given explicit mandate which would see climate sustainability on par with price stability
Climate change risks ‘already with us’ – BoE’s Breeden
Sarah Breeden urges financial firms to take action on both opportunities and risks
Major central banks call for concerted action on climate change
“Transition risks” are the most challenging for financial institutions, Carney says
Divestments based on ethical grounds reduce returns of Norway’s fund
The exclusions trimmed cumulative returns on the equity index by 3.3% since 2004