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NGFS publishes report taking stock of transition plans
01 June 2023The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) has published a review of financial institutions' transition plans - and ways to improve the process.
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NGFS transition plan 'stocktake' due this week
30 May 2023The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) will publish its "stocktake" on transition plans this week, which one official said will demonstrate how "inconsistent" the global picture is.
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Swedish central bank corporate bond purchases to require TCFD disclosures
01 July 2022The Swedish central bank will only buy corporate bonds for its asset purchase programme from issuers which have disclosed greenhouse gas (GHG) emissions...
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Bank of England urged to reduce climate change risk exposure by lawmakers
25 January 2021The Bank of England (BoE) has been urged by a group of Members of Parliament to align its £20 billion ($27 billion) asset purchase programme to the Paris Agreement and require large firms receiving help from the taxpayer during the Covid-19 pandemic to provide climate disclosures.
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BIS launches second green bond fund for central banks
25 January 2021The Bank for International Settlements (BIS) has launched a euro-denominated green bond fund for central banks, joining its inaugural fund launched in 2019.
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French central bank tightens fossil fuel exclusions for €22bn portfolio
19 January 2021The Banque de France (BdF) has tightened the fossil fuel company exclusions applied to its own investment portfolio worth €22 billion ($27 billion), but campaigners called on the bank to "apply the same level of ambition to the immediate decarbonization of the European Central Bank's (ECB) monetary policy".
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Sound climate risk management needs sound measurement, says Macklem
09 October 2020Bank of Canada governor Tiff Macklem said that robust measurement of climate risk in the economy is required to manage the "accelerating" risk posed by climate change and the transition to a low-carbon economy, with global initiatives starting to "bear fruit".
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Central banks should step up to face environmental breakdown risk in finance
21 August 2020Market-fixing approaches such as the nascent Task Force for Nature-related Financial Disclosures (TNFD) are "unsuitable" for managing the risks posed by environmental breakdown, an academic paper has argued, instead proposing that central banks and financial regulators should introduce strict industry-wide exclusionary criteria.
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Carney: Financial sector moving too slowly on climate
30 December 2019The global financial sector is moving too slowly to curb the negative impacts of climate change, the governor of the Bank of England has said.