Climate change
UK government could give BoE ‘green’ asset holding remit – official
Government could alter BoE’s asset-holding remit to take account of climate-related risks – Hauser
ECB will consider dropping market neutrality – Lagarde
Policy review will consider abandoning principle guiding asset purchases, but Bundesbank’s Weidmann is opposed
Canadian households face ‘crucial’ months – BoC governor
Macklem warns that financial risks to households are likely to rise as loan deferrals end
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk
EBRD commits to 50% green investment policy
Three candidates from European finance ministries compete to become bank’s next president
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts
BoE considering green conditionality for corporate bond-buying
Executive director says BoE will discuss with Treasury whether it should gain environmental mandate
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing, coverage, portfolio construction, benchmarking, external parties and risk
ECB to accept green bonds as collateral
Green asset purchases also possible subject to programme-specific criteria
Moral mandates better suited to ESG adoption than financial goals – panel
Lack of liquid green bond markets limits a wider adoption of ESG investment strategies
New Zealand becomes first country to mandate climate risk disclosures
Several governments are working to enshrine TCFD framework in law
Few central banks consider climate risk within benchmarks
Despite central banks supporting mandatory climate risk disclosures, very few account for it in their benchmarks
Netherlands nominates Frank Elderson to the ECB board
NGFS chair would replace Yves Mersch, whose term expires in December 2020
CFTC report calls for US regulators to take urgent climate action
US should join NGFS, impose carbon price and mandate firms to disclose green risks, report says
Central Bank of Brazil launches climate change agenda
Proposals include sustainable liquidity facility and adding climate factors to reserves management
Many Paris Agreement signatories do not use ESG screens
Most reserve managers fail to take environmental factors into account for FX portfolios
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
RBA hones in on data management as part of 2021 strategic plan
Central bank will look to bolster technology infrastructure
Carney to lead asset manager’s climate change strategy
Former BoE governor joins Canadian firm Brookfield and will continue in UN climate role
Official institutions lead the Covid‑19 recovery charge
Tested by the Covid-19 pandemic, market consensus is that official institutions have been instrumental in mitigating market disruption. As economies work out how to adapt to a post-lockdown world, major public bodies are likely to play a key role in the…
FSB study finds quantifying climate risks is still a challenge
Stocktake finds many jurisdictions integrating climate risks into their frameworks, but progress varies
Book notes: The state of economics, the state of the world, edited by Basu, Rosenblatt and Sepúlveda
The 2016 contributions of Nobel Prize-winning economists and others remain relevant to today