central banks

Roberta Pierfederici explains why new climate scenarios are a crucial step forward for informing central banks’ and supervisors’ response to climate risk, but recommends improvements for the methodological framework. Read more

This is a response to the Bank of England's discussion paper, 'The 2021 biennial exploratory scenario on the financial risks from climate change'. The response has been prepared by authors from the Grantham Research Institute on Climate Change and the Environment at LSE, the Grantham Institute – Climate Change and the Environment at Imperial College London, and the University of Edinburgh Business School. Read more

This briefing is designed to provide central banks and financial supervisors with an initial toolbox of options to align their COVID-19 crisis response measures with climate and sustainability objectives and mitigate potential sustainability risks. Read more

This report provides an overview of the 21 projects commissioned by INSPIRE - the International Network for Sustainable Financial Policy Insights, Research and Exchange - up to spring 2020. The first preliminary results presented in this report point towards important policy implications, as well to the need for further research and exchange between researchers and central banks and supervisors. Read more

Javier Solana explains the relevance for climate change action and the design of monetary policy of a recent decision by the German Constitutional Court that the Eurosystem’s Public Sector Purchase Programme is invalid. Read more

This paper assesses the effectiveness and interactions of different policies aimed at reducing carbon dioxide emissions, using a macro-financial framework. The research aims to provide central banks and similar institutions with the tools to contribute to climate change mitigation and demonstrates the importance of including these institutions in the push to reduce global emission levels. Read more

In raising ambition and accelerating action on climate change, there is one sector that can have an outsized impact on changing the trajectory: the finance sector. In this post for the Sustainable Finance Leadership Series, Patrick Curran, Nicholas Stern and Nick Robins set out why and how the finance sector should be encouraged to ramp up its focus on climate action. Read more

This paper charts the rise of central bank and supervisor action on climate change and wider sustainability issues, analyses the key features of the 'new normal' and highlights priority themes for policy and research in the years ahead. Read more

This paper was submitted to the Dasgupta Review on the Economics of Biodiversity – Call for Evidence, an independent global review to assess the economic value of biodiversity and to identify actions that will enhance biodiversity and deliver economic prosperity. Read more

Richard Kozul-Wright argues for a coordinated global investment programme to tackle the twin challenge of delivering social and economic development while stabilising the climate. Read more