Climate change
G20 promises greater funding for World Bank
US-led effort could unlock $200 billion of funding capacity, if countries follow through on pledges
NGFS launches framework on nature-related risks
Guide aims to create common approach for central banks and supervisors
Climate change poses ‘acute uncertainty’ for economy – RBA’s Bullock
Incoming governor says climate change may lead to structural changes and affect neutral rate
Lagarde envisions new model for world of ‘shifts and breaks’
ECB chief predicts bigger supply shocks and relative price swings in future
Book notes: My journeys in economic theory, by Edmund Phelps
Six decades of the Nobel Prize-winner’s thoughts – from micro-foundations of macro theory to the possibilities beyond working, saving and investing
Earth to Jackson Hole: create sustainable future bonds for stability and prosperity
Marina Zucker-Marques and Kevin Gallagher offer a template for a new central bank asset
RBNZ unveils climate stress-test scenario
New Zealand’s largest lenders will be tested on exposure to extreme weather and transition costs
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
ECB paper analyses carbon pricing schemes
Rising compliance costs can push firms away from green innovation, paper finds
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Cash for a very rainy, tremorous or lava-filled day
Are central banks well-positioned to keep cash flowing during natural disasters?
Carney to co-chair World Bank investment panel
“Investment Lab” tasked with overcoming barriers to investment, including in climate finance
Basel Committee overhauls supervision guidance
Key updates cover supervision of risks related to interest rate, operations and climate
Philippines central bank examines impact of temperature shocks
BSP is also working with World Bank to stress test local banks’ exposures to transition risk
Brazil regulators cut off loans for environmental law violators
Resolution marks change in policy from Bolsonaro era
Georgieva says $100 billion in SDRs donated
IMF chief says 2021 goal reached, but critics note Congress has not approved US pledge
Central Banking Awards 2023: highlights from the ceremony
Event heard from award winners including Stefan Ingves, Shaktikanta Das and Andriy Pyshnyy
Eurozone carbon tax hike would cause small GDP fall, paper finds
Raising tax to rate consistent with net zero would create only transient inflation, researchers say
ECB paper examines green regulation’s productivity impact
Tougher rules seem to hurt productivity, but might raise it over longer horizons, researchers say
Central banks need short-run climate models – BdF governor
Governments may push central banks into ineffective climate action, Sarb governor warns
Carbon pricing would have ‘limited impact’ on eurozone inflation, says paper
Inflation would rise less than 0.2% per year until 2025 and then decline, researchers say
Subsidies could cut net zero transition costs, BdF paper finds
Using carbon tax revenues to fund new technologies would almost halve GDP loss, researchers say
ECB paper estimates inflationary effects of climate change
Rising temperatures are having persistent effects on prices, especially for food
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption