The Potential Contribution of Central Banks to Green Finance

Artikel

Central banks and financial supervisors approach ‘green finance’ mostly to preserve macroeconomic and financial stability according to their mandates. Obviously, climate change poses severe risks to households, firms and their financial intermediaries. These risks tend to be correlated and their scope goes beyond historical evidence, therefore their impact on the financial system is difficult to model. On the other hand, the planned decarbonization of the global economy creates enormous investment opportunities. Central banks and supervisors play a role in safeguarding the financial system’s smooth transformation from funding old, brown industries to funding a new green economy. The ‘Network for Greening the Financial System’ facilitates an exchange of experience and ideas among central banks and financial supervisors; we present some of their findings. While central banks can and should contribute to making the economy and the financial system more sustainable, they can only complement, but not substitute for, decisive political action by governments.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Vierteljahrshefte zur Wirtschaftsforschung ; ISSN: 1861-1559 ; Volume: 88 ; Year: 2019 ; Issue: 2 ; Pages: 55-71 ; Berlin: Duncker & Humblot

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Central Banks and Their Policies ; General Financial Markets: Government Policy and Regulation ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Climate; Natural Disasters and Their Management; Global Warming
• Thema: Central bank policies ; government policy and regulation ; financial risk and risk management ; climate change ; natural disasters

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Breitenfellner, Andreas ; Pointner, Wolfgang ; Schuberth, Helene
• Ereignis: Veröffentlichung
• (wer): Duncker & Humblot
• (wo): Berlin
• (wann): 2019

Weitere Informationen

• DOI: doi:10.3790/vjh.88.2.55
• Handle: http://hdl.handle.net/10419/225182
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ