News
ECB on track to meet emissions targets as it increases green bonds in portfolio
1+ hour, 22+ min ago (635+ words) Christine Lagarde speaking at a press conference in March 2022 " ECB The European Central Bank (ECB) and Eurosystem portfolios are on track to meet their emission reduction targets, while the central bank is supporting the energy transition by increasing its investment…...
What is GEP, the alternative to GDP that has taken off in China?
1+ week, 2+ day ago (1700+ words) GDP is not enough," declared UN chief Antonio Guterres at the recent launch of a report by an expert group recommending alternatives to the world's prevailing measure of economic success. In my time as secretary-general, the size of the global…...
Report: ECB's green operational framework will only have a modest impact
3+ week, 6+ day ago (667+ words) The European Central Bank's (ECB) revised operational framework aims to support the green transition, but as it stands today it will only have a modest impact, says a new report from nonprofits Heinrich-B'll-Stiftung and Positive Money Europe. The framework dictates…...
Bank of Korea urged to treat climate finance as inflation management tool
1+ mon, 3+ week ago (973+ words) As the South Korean won comes under further pressure due to surging oil prices, advocacy groups are calling for its central bank to manage inflation risks with greener monetary policies. The country's currency has plunged to its weakest level since…...
Iran oil price shocks have the ECB considering its next moves
2+ mon, 1+ week ago (1007+ words) An increase in interest rates by the European Central Bank (ECB) would not do much to stabilise the price of oil and could potentially increase reliance on fossil fuels, experts told Green Central Banking. Oil prices have jumped in the…...
How central banks are using AI to manage climate risk
2+ mon, 2+ week ago (1466+ words) Image: Igor Omilaev / Unsplash Like every other sector, AI has the potential to revolutionise how financial regulation and supervision is managed. AI could not only make climate reporting easier for companies, it could also increase data reliability for regulators. One…...
Capital controls to needed address climate crisis, economist argues in new book
3+ mon, 2+ week ago (656+ words) Governments and central banks should take back control of the global financial system to manage the threat of climate breakdown and biosphere collapse, political economist Ann Pettifor argues in her new book The Global Casino. "It's about time that we…...
French politicians recommend that ECB looks at green dual interest rates
3+ mon, 2+ week ago (943+ words) The French National Assembly has recommended several measures to strengthen the eurozone's monetary policy in the face of climate change, as an increase in extreme weather events and decarbonisation efforts across the EU are expected to impact the broader economy,…...
More EU investment, regulatory reform and policies needed to reach net zero, says ECB
3+ mon, 2+ week ago (836+ words) For Europe to transform its economy to one aligned with the green transition, it must adopt structural policies at the EU and national level to overcome current barriers to investment, a recent paper from the ECB finds. The EU has…...
Could the ECB executive board reshuffle shift how it thinks about climate?
4+ mon, 6+ day ago (1042+ words) The European Central Bank executive board is facing a reshuffle in the next few years, with most of its members being replaced. While experts don't expect the central bank to reverse its approach to climate, the opaque nomination process makes…...