Central banking, climate risks and sustainable financeOctober 2024

There are several reasons behind central banks' growing attention to climate-related risks and sustainability issues. A threat to the stability of the financial system could actually stem from these risks. There could be substantial macroeconomic effects, thus making it harder for central banks to pursue their mandate and hindering the assessment of the outlook for prices and for economic activity needed to set out their monetary policy strategies. These risks may also affect the value of the financial assets held on central banks' balance sheets and therefore their capital soundness. The analyses that central banks conduct to quantify and manage the economic risks connected with climate change and to evaluate the policies designed to address these risks can be put at the service of the public at large. In their capacity as investors, central banks set an example for other institutions in risk analysis and management, in making investment decisions that are consistent with decarbonization targets, and in increasing savers' awareness.

Participants in this two-module webinar (including an introductory and an advanced module) will learn from experts working on these issues from different perspectives: monetary policy and financial stability specialists, applied economists, managers of the Bank's portfolio, and experts in banking supervision.