Green finance
UK government pledges economy-wide climate disclosures by 2025
FCA says firms worth $3.8 trillion will disclose climate risks over next three years
BoE warns banks: start preparing for a higher carbon price
Risk Live: stress tests should assume rising carbon price, regardless of government policy, says Breeden
Fed examines climate risks in stability report for first time
It is “vitally important” that climate risks are “assessed and addressed”, says Lael Brainard
BoE will not use climate stress tests to set capital buffers – Bailey
Andrew Bailey reveals new details of tests, with launch set for summer of 2021
Firms still making too few climate disclosures, task force says
TFCD report highlights rapid rise in firms backing disclosure, but says fewer are taking action
Malaysia’s central bank to launch climate taxonomy in 2021
Information asymmetry among financial firms is hampering green lending, assistant governor says
Nobel laureate envisages climate change-fighting ‘club’
Green finance will not be enough to halt climate change, says William Nordhaus
Covid-19 bolsters support for greener future – Menon
Managing director takes stock of economic damage but says future will be a sustainable one
UK government could give BoE ‘green’ asset holding remit – official
Government could alter BoE’s asset-holding remit to take account of climate-related risks – Hauser
ECB will consider dropping market neutrality – Lagarde
Policy review will consider abandoning principle guiding asset purchases, but Bundesbank’s Weidmann is opposed
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
EBRD commits to 50% green investment policy
Three candidates from European finance ministries compete to become bank’s next president
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts
BoE considering green conditionality for corporate bond-buying
Executive director says BoE will discuss with Treasury whether it should gain environmental mandate
ECB to accept green bonds as collateral
Green asset purchases also possible subject to programme-specific criteria
Spread gap between green and grey bonds closing – BIS specialist
Measuring and incorporating sustainability still a challenge, says Omar Zulaica
Moral mandates better suited to ESG adoption than financial goals – panel
Lack of liquid green bond markets limits a wider adoption of ESG investment strategies
New Zealand becomes first country to mandate climate risk disclosures
Several governments are working to enshrine TCFD framework in law
Few central banks consider climate risk within benchmarks
Despite central banks supporting mandatory climate risk disclosures, very few account for it in their benchmarks
Central Bank of Brazil launches climate change agenda
Proposals include creation of sustainable liquidity facility and adding climate factors to reserves management
Many Paris Agreement signatories do not use ESG screens
Most reserve managers fail to take environmental factors into account for FX portfolios
FSB study finds quantifying climate risks is still a challenge
Stocktake finds many jurisdictions integrating climate risks into their frameworks, but progress varies
People: National Bank of Ukraine appoints new deputy
Heletii has served as Ukraine’s deputy finance minister since July 2018; Jamaica appoints senior deputy governor, MAS has new leader for green finance; IMF names special adviser to Kristalina Georgieva
NGFS unveils climate stress-test scenarios
Group releases guidance document and data to help central banks tailor climate stress scenarios