INSPIRE Sustainable Central Banking Toolbox policy briefing paper series

Launched in April 2022, this policy briefing paper series is designed to support central bankers and financial supervisors in calibrating monetary, prudential and other instruments in accordance with sustainability goals, as they address the ramifications of climate change and other environmental challenges.

All papers in this series are written and peer-reviewed by leading experts from central banks, academia and think tanks, and are based on cutting-edge research, drawing from best practice in central banking and supervision.

The series is published by the Grantham Research Institute with the SOAS Centre for Sustainable Finance under INSPIRE – the International Network for Sustainable Financial Policy Insights, Research, and Exchange. Find out more about INSPIRE at: www.inspiregreenfinance.org/.

Download the papers:

1 – Inflation and climate change: the role of climate variables in inflation forecasting and macro modelling (13 April 2022)

2 – Developing a precautionary approach to financial policy – from climate to biodiversity (27 April 2022)

3 – Central banks and climate-related disclosures: applying the TCFD’s recommendations (12 May 2022)

4 – Sustainable and responsible management of central banks’ pension and own portfolios (25 May 2022)

5 – Aligning financial and monetary policies with the concept of double materiality: rationales, proposals and challenges (9 June 2022)

6 – Sustainable management of central banks’ foreign exchange (FX) reserves (8 July 2022)

7 – Greening collateral frameworks (8 August 2022)

8 – Greening capital requirements (7 October 2022)

9 – Beyond climate: addressing financial risks from nature and biodiversity loss (9 December 2022)

10 – Supporting the just transition: a roadmap for central banks and financial supervisors (16 December 2022)

11 – Building blocks for central banks to develop nature scenarios (24 January 2023)

12 – Inclusive green finance: A new agenda for central banks and financial supervisors (7 June 2023)

13 – Using green credit policy to bring down inflation: what central bankers can learn from history (24 July 2023)

14 – Climate-related systemic risks and macroprudential policy (8 August 2023)

15 – Prudential transition plans: the great enabler for effective supervision and regulation of climate-related financial risks? (12 September 2023)

16 – Enhanced scenarios for climate stress-tests (30 April 2024)