The world’s biggest central banks are taking active steps towards driving real climate information and risk disclosure, and thinking through the incentives/disincentives in the monetary system for capital mobilisation to lower CO2 businesses, projects and investments. The Bank of England has confirmed its inaugural climate stress testing to take place in July 2021. The Bank of Canada is working on improving country-specific climate scenario modeling towards the end of 2021. And the green central banking group, the Network for Greening the Financial System (NGFS) is amplifying its work across global jurisdictions. However, the challenges with disclosure, data and definitions remain, and there are calls for central banks to become more active by clearly focusing stimulus and allocating their own reserves towards the green transition.
Responsible Investor, in partnership with MSCI, will explore the vital role of central banks in fighting the climate crisis by using their ability to standardise, regulate and mobilise capital in support of a sustainable net zero economy.
Questions this webinar will ask include:
- How is Central Bank climate risk activity so far impacting the activity of corporates and investors?
- Will mandatory climate disclosure fill the data gap and enable central banks to get a comprehensive picture of climate change risk across the financial system? - What are the challenges here?
- How could monetary and micro/macroprudential policies be used to support the transition to a net-zero economy?
- Has the climate emergency convinced central banks to mobilise their own reserves for green investment/promotion?
Speakers:
- Steve Waygood, Chief Responsible Investment Officer, Aviva Investors
- Chris Faint, Head of Division, Bank of England
- David Lunsford, Head of Climate Policy and Strategy, MSCI
Moderator:
- Vibeka Mair, Senior Reporter, Responsible Investor