BoK examines policy tools to tackle climate change
Central bank pledged to increase purchase of ESG-compliant products for reserve portfolio
The Bank of Korea examined several policies to improve the local financial sector’s contribution to reducing carbon emissions, in a report published on October 28.
The report said moving economies to carbon neutrality could have profound impacts on the stability of prices and financial institutions.
One possible policy shift would be for the central bank to accept green bonds as central bank collateral. The European Central Bank adopted this measure in 2019. Broadening the eligibility of
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