Central banks continue climate action despite political pressure
Reserve managers are expanding green investments, as some incorporate “double materiality”
Central banks are pressing ahead with action to tackle climate change, even as the political environment turns hostile in some jurisdictions.
Reserve managers have been adding new green assets and improving sustainability tracking, speakers at the Central Banking Summer Meetings said. Some have begun to aim for a positive impact on the climate as well as managing the risks.
The political backdrop for central banks is highly uneven. In some countries, particularly where right-wing parties are
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