Climate change is “a challenge” because of the threat it poses to the economy and the impact on central bank operations, the Bundesbank said on Tuesday.
Climate change is “a challenge” by the threat it poses to the economy and the impact on central bank operations, the Bundesbank said on Tuesday. Climate change is “a challenge” by the threat it poses to the economy and the impact on central bank operations, the Bundesbank said on Tuesday.
This is one of the main conclusions reached by the Network for Greening the Financial System, after surveying 26 central banks from 451 countries and reviewing the institutional frameworks and balance sheets of 197 central banks.
In particular, the Network for Greening the Financial System has examined the extent to which central banks are prepared to consider climate change risks in their monetary policy operations.
In the information now released by the German central bank, it was said that most of these financial institutions consider climate-related measures in general terms, but the adoption of specific measures is in a “very early stage”.
But “most central banks see scope in their mandates to adjust their operational frameworks to reflect the risks associated with climate change,” the Bundesbank said.
