Green Central Banking

The EU omnibus removed the obligation for companies to adopt a climate transition plan. But that does not mean banks no longer need transition plans, experts say. greencb.co/4rLeSD5

#GreenCentralBanking roundup: 🇳🇬 Climate risk is financial risk, says Central Bank of Nigeria governor 🇪🇺 ECB staff flag concerns over simplified sustainability reporting standards 🇦🇺 Australia launches sustainable investment labelling consultation greencb.co/4aPSDVs

Without clearer criteria and metrics in adaptation taxonomies, Asia risks widening its climate financing gap, warns a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). greencb.co/4qSW6sf

Almost half the world’s population will be living with extreme heat by 2050, according to a new study. The economic impact could be felt soon in developing countries due to rising demand for energy to power air conditioning. greencb.co/4kDpTDH

🇪🇺 The @ECB has issued a second fine for not adequately assessing climate and environmental risks. A €7.6mn periodic penalty payment was issued to Crédit Agricole on Friday for failing to meet a materiality assessment for 75 days in 2024. greencb.co/3ZCfcYz

Despite the protection gap closing slightly in some parts of the world, Asia’s emerging markets remain among the least insured against extreme weather risks. greencb.co/4tBICDE

🇪🇺 The @ECB executive board is facing a reshuffle in the next few years, @MoriahCosta looks at how the changes might shift how the bank thinks about climate? greencb.co/4cidHGk

#GreenCentralBanking roundup: 🇯🇲 Jamaica’s sovereign rating holds thanks to disaster preparedness 🇮🇳 India defers climate disclosure rules for banks 🇬🇧 FCA proposes phased approach for UK sustainability standards And more 👇 greencb.co/4aFir7H

After several years of issuing guidance and repeatedly calling on banks to take climate and environmental risk management seriously, the @ECB is moving from guidance and expectations to enforcement, says Michael Horvath. greencb.co/3ZsgnJW

🇺🇸🇨🇳 @ClimateandCap’s @PeterMcKillop takes a look at how Kevin Warsh’s “Contraband” climate doctrine could hand China a green finance edge. greencb.co/3ZUcWvy

Regulators need to move beyond traditional economic models to assess and understand the devastating and compounding impacts of climate change, a study from the @UniofExeter, @CarbonBubble and Aurora Trust found. greencb.co/4bwrF7b

Hong Kong has become the latest country in Asia to introduce a transition category to its taxonomy, as part of efforts to raise more capital for the decarbonisation of high-emitting sectors in the city, as well as across China and the rest of the region. greencb.co/3NMGecW

🇺🇸 US designs on Venezuela and Greenland have raised questions about the future of the petrodollar system, as other countries explore other currencies and green energy becomes cheaper than oil, writes @IngridWSS. greencb.co/49M26Ob

🇨🇦 A new kind of lawsuit is holding the Canada Pension Plan Investment Board to account for fossil fuel investments, say campaigners Cheryl Randall and Patrick DeRochie of @ActionShift. greencb.co/4k56OtW

#GreenCentralBanking roundup: ✅ NGFS unpacks policy options for greening monetary policy 🇪🇺 ECB finds physical climate risks significantly underestimated 📋 African nations move faster than peers in adopting ISSB standards And more 👇 greencb.co/4q05lX1

🇨🇳 China has finalised its first national climate disclosure standard, which now ties corporate reporting to national targets. greencb.co/4q3BGwm

Geopolitical tensions around crises such as Greenland and Venezuela should bolster the case for the transition away from fossil fuels, even as the shift creates new rivalries around critical minerals needed for renewable energy technologies, experts say. greencb.co/45rs9Yt

🇺🇸 Most major US public pensions are failing to make investments that help reduce emissions and protect their members’ retirement savings from rising climate risks, according to a report by the @SierraClub. greencb.co/4bdwGRV

Our partners at @PositiveMoneyUK are looking for consultants to support the next Asia edition of the Green Central Banking Scorecard. Details & how to apply: positivemoney.org/vacancy/east-a…

Central banks should create a new carbon reward asset to help fund the net zero transition, according to a new proposal from @CarbonReward (GCR). @ethomasson spoke to Delton Chen, GCR executive director and founder, to find out more. greencb.co/49Uiuft