📗 Today, the #NGFS has published a report on the recent progress made with integrating climate-related considerations into #monetarypolicy operations.
💡 It provides practical insights to other #centralbanks that may seek to adjust their operations.
Find out more ⬇️
Solution au dilemme de la BCE entre le climat et la stabilité des prix : adopter une politique de double taux d'intérêt, comme les banques centrales le faisait avant le traité de Maastricht…
Excellente tribune de @jvtklooster@MonnetEric!
#GreenTLTROs
https://t.co/q57WiTgh5g
Is central bank credit to banks neutral with regard to the climate transition?
Using confidential micro-level data, we explore the carbon bias of the ECB’s trillions of TLTRO credit to banks. And propose a green alternative.
A (simple) 🧵
Avec la directive CSRD adoptée fin 2022, l’Union européenne renforce les exigences en matière de publication des indicateurs environnementaux, sociaux et de gouvernance (ESG). https://t.co/7bcMZfzy4i
Central banks historically used reserve requirements for a wide range of purposes. Today, tiered reserve requirements can serve to reduce bank lending while also protecting sustainable projects, writes @jvtklooster of @UvA_Amsterdam. https://t.co/ugXbdjsdKZ
Tomorrow, the #IPCC will release the final part of the Sixth Assessment Report, #ClimateChange 2023: Synthesis Report. It integrates the findings of six IPCC #ClimateReports.
6/6 Climate Change 2022: Mitigation of Climate Change
➡️https://t.co/mIdBKgvokW
In my speech “Monetary policy tightening and the green transition” I discuss how the current macroeconomic environment, in particular painfully high inflation and rising interest rates, impacts the green transition and what this implies for monetary and fiscal policymakers. 1/17
Thanks to @Isabel_Schnabel@ecb for her thoughtful discussion of the Green TLTROs as a price stability instrument, but still puzzled by the intellectual objection to acting today: It seems we agree on (almost) everything /1
Now live @banquedefrance tweeting about the conference „Frontiers of climate and nature“ today and tomorrow. We start with remarks by Vice Governor @GoulardSylvie: „When we disrupt the stability of the earth system, there is no macroeconomy anymore“ #frontiers22