BoE paper explores impact of climate-change policies on central bank objectives
Unexpected tightening of carbon-emission policy could generate "significant" balance-sheet losses, paper says
A "sudden, unexpected" tightening of carbon-emission policies could lead to a "disorderly repricing" of carbon-intensive assets and a negative supply shock, a working paper published by the Bank of England has warned.
In Let's talk about the weather: the impact of climate change on central banks, Sandra Batten, Rhiannon Sowerbutts and Misa Tanaka examine how climate change and policies used to mitigate it could affect a central bank's ability to meet its objectives.
In addition to examining the
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