Green Financial and Monetary Policy in the Low-Carbon Transition: Drivers and Impacts
Lukas Rischen (Humboldt University) examines how green fiscal and monetary policy instruments shape renewable energy investment and accelerate countries’ progress along their low-carbon transition pathways.
Systemic Climate Risk
Honorable Mention from the 2024 E-Axes Forum Research Committee
Tristan Jourde (Banque de France) and Quentin Moreau (The Hong Kong University of Science and Technology) introduce a market-based framework for assessing how extreme climate risks affect the financial sector and for monitoring exposures to both physical and transition risks in near real time.
Warning Words in a Warming World
Emanuele Campiglio (University of Bologna, EIEE, LSE), Jerome Deyris (Sciences Po), Davide Romelli (Trinity College Dublin) and Ginevra Scalisi (Sant’Anna Pisa) present a new dataset on central banks’ communication about climate change and ask what drives institutions engagement with environmental issues, how do they frame these new challenges within their existing mandates and how do financial markets respond to this expanding scope of central bank communication.
Climate Stress Tests: an Overview
Climate stress tests were built to assess climate systemic risk in the financial system. They demand resources from supervisors and banks alike, but are proving useful to inform macroprudential policies.