Green finance
Bank of Italy paper looks at economic impact of disasters
More frequent disasters make economic effects larger and non-linear, researcher finds
BdF paper looks at French law on climate disclosures
Law led to sharp cut in French firms’ holdings of fossil fuel-related instruments, research finds
Federal Reserve joins NGFS
Seven other organisations join as Trump defeat frees Fed to join green network
Bank of Spain paper applies text mining to climate disclosures
Some climate disclosures found only in remuneration or Pillar 3 reports, researchers say
BoE considering legal action over hoax press release
Group calling themselves the ‘Yes Men’ claimed credit for the fake
MAS sets up grant scheme to encourage green loans
Singapore’s central bank will pay part of banks’ and other firms’ costs in hiring environmental advisers
Green firms see equities rise as climate concerns grow – NBB paper
Researchers track relationship between media coverage and large firms’ equity values
FSB warns of ‘breadth and magnitude’ of climate risks
Report warns climate risk could be more challenging to address than other economic risks
Asean central banks call for joint action on climate risk
Asean policy-makers have work to do if they are to catch up with climate leaders, report says
Canada launches climate risk scenario pilot
Project will test volunteer institutions for their exposure to climate change risk
UK government pledges economy-wide climate disclosures by 2025
FCA says firms worth $3.8 trillion will disclose climate risks over next three years
BoE warns banks: start preparing for a higher carbon price
Risk Live: stress tests should assume rising carbon price, regardless of government policy, says Breeden
Fed examines climate risks in stability report for first time
It is “vitally important” that climate risks are “assessed and addressed”, says Lael Brainard
BoE will not use climate stress tests to set capital buffers – Bailey
Andrew Bailey reveals new details of tests, with launch set for summer of 2021
Firms still making too few climate disclosures, task force says
TFCD report highlights rapid rise in firms backing disclosure, but says fewer are taking action
Malaysia’s central bank to launch climate taxonomy in 2021
Information asymmetry among financial firms is hampering green lending, assistant governor says
Nobel laureate envisages climate change-fighting ‘club’
Green finance will not be enough to halt climate change, says William Nordhaus
Covid-19 bolsters support for greener future – Menon
Managing director takes stock of economic damage but says future will be a sustainable one
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
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
EBRD commits to 50% green investment policy
Three candidates from European finance ministries compete to become bank’s next president
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts