Page 6 - Supervisors Network News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SPEECH The embrace of the horizon: Forcefully moving with the changing tide for climate action in financial sector policies Speech by Frank Elderson, Chair of the Central Banks and Supervisors Network for Greening the Financial System, Member of the Executive Board and Vice-Chair of the Supervisory Board of the ECB, at The Green Swan Conference – Coordinating finance on climate Frankfurt am Main, 3 June 2021 Many thanks to the organisers for inviting me to address this conference with so many distinguished speakers. I am truly honoured to have the opportunity to speak at this important even...

Why Technology Could Slow the Clean Energy Transition Energy density—defined as the “amount of energy stored in a given system, substance, region of space per unit volume”—is the main reason why fossil fuels will not be replaced in the near future by renewables. Approximately 84 percent of global electricity derives from oil, natural gas, and coal. The International Energy Agency (IEA) released a sobering report on the mining and infrastructure requirements needed for decarbonization and/or net-zero to take shape. Mining to move away from hydrocarbons will require 4,200 percent more ...

 E-Mail Researchers at the University of Zurich show how climate mitigation scenarios can be improved by taking into account that the financial system can play both an enabling or a hampering role on the path to a sustainable economic system. To limit global warming, a profound transformation of energy, production and consumption in our economies is required. The scale of the transformation means that the financial system must have a proactive role. New green investments are needed, as well as a reallocation of capital from high to low-carbon activities. The Central Banks and Supervisors Ne...

© Getty Images As if central banks today did not already have enough to do printing all the paper money needed to finance proliferating government spending. Regardless, they are taking on a new responsibility, the “greening of the financial system.”  According to the Wall Street Journal, they have pledged to join forces with financial regulators, “to limit climate change by steering their financial systems away from funding fossil fuels.” Given central banks’ collective history of causing inflations, recessions and financial crises while managing monetary policy, what could possib...

RBI joins network for ‘greening the financial system’ April 29, 2021 NGFS was launched at the Paris One Planet Summit on December 2017 The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a Member. The NGFS is a group of Central banks and supervisors willing to share the best practices and contribute to the development of the environment and climate risk management in the financial sector, while mobilising mainstream finance to support the transition towards a sustainable economy. The System was launched at the ...