Stronger micro-prudential oversight needed on climate change – Mexican deputy
Financial firms should incorporate environmental scenario analysis into their decision-making process
Central banks need to develop stronger micro-prudential tools to contribute to tackle climate change, said the deputy governor of the Bank of Mexico, Javier Guzmán Calafell.
In a speech in Washington, DC, during the annual conference of the International Monetary Fund, Calafell stressed these actions are essential to foster sustainable capital markets.
“Central banks and other financial authorities ought to undertake a continuous and careful evaluation and monitoring of the risks for
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