Check out the latest post on the SUARA SEACEN Blog by Meltem Chadwick, Victor Pontines and Ole Rummel:
Climate change poses a common risk for all SEACEN member economies, but not all SEACEN member central banks/monetary authorities are prepared equally. This blog offers four guiding principles around which the process of incorporating climate change into the central bank policymaking process can be organised. The first basic requirement is a green taxonomy, on the basis of which a preliminary analysis of the most pertinent climate risks and their likely impact on monetary and financial stability can proceed in Step 2. The third step concerns the need for new and innovative data sources and their use in advanced modelling techniques. The last step involves the allocation and upskilling of central bank resources and a potential reorganisation of the central bank to optimally focus on addressing climate change.
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