Climate change
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
FDIC vice-chair heralds likely changes under Trump 2.0
Hill suggests looser regulation and ignoring climate risks will be focus under new administration
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
IMF approves $259m loan to support PNG’s climate resilience
Fund also disburses $125 million to support economic reforms in Papua New Guinea
Sustainable development: central banks taking the lead
For those still sceptical about the financial sector’s commitment to progress on sustainable development goals and to taking all possible steps to tackle climate change, 2024 has shown that central banks, financial sector regulators and supervisors are…
Nature loss is key metric for supervisors – ECB board member
Elderson says central banks need to develop better ways to measure its impact on financial stability
Fake it ’til you break it: the battle against disinformation
Transparency, beefed-up comms and AI are all being enlisted in central banks’ fight against falsehood
Lagarde warns of widening climate finance gap
“We must adapt and become more resilient” in a fair and equitable manner, says ECB president
IMF paper tracks banks that are ‘keeping coal alive’
Pull-back of many lenders is leaving concentrated exposures and roll-over risk
Combining central banking orthodoxy with innovation
Sergiy Nikolaychuk argues the future of central banking centres on adaptability as well as independence
Governors weigh macroeconomic risks at G30 event
Officials from Netherlands, South Africa, BIS and more consider debt, inflation and climate change
Book notes: Carbon colonialism: how rich countries export climate breakdown, by Laurie Parsons
Compulsory reading to gain insights into many climate issues that receive insufficient ‘airtime’
ECB stands firm on fining banks over climate risks
Board member says lenders could pay daily penalties for not addressing environmental concerns
Climate stress tests are cold comfort for banks
Flaws in regulators’ methodology for gauging financial impact of climate change undermine transition efforts, argues modelling expert
Energy data is ‘must-have’ for managing credit risk – Elderson
ECB board member calls for real data from energy efficiency certificates instead of proxies
Central banks face risks if they exceed their brief on global warming – IMF paper
Study says climate measures must be underpinned by legal mandate and not infringe on governments’ remits
NBER paper reviews ‘state of the art’ climate modelling
Recent breakthroughs have increased accuracy and computational efficiency of IAMs
Phasing out coal-fired power could ultimately pay for itself – BdF paper
Authors say gains from lower operating and finance costs could compensate for outlay costs
Finance ‘must account for climate’ – ex-Bangladesh Bank governor
Rahman says GDP ignores country’s vulnerability to environmental degradation
World Bank approves credit financing for Pacific islands
Local banks could use funds to secure correspondent banking relationships in event of emergency
Nature risk poses ‘major data and modelling challenges’ – FSB
Stocktake finds supervisors at varied stages of analysing biodiversity loss and related risks