Central Banks and Climate Risk Management

Central Banks and Climate Risk Management

Amit Kara

30 years: Macroeconomist

In this video, Amit discusses climate change and the role that central banks can play in helping navigate the economy towards net zero. Amit makes a compelling case for why climate change risk management should be included in the mandate for every central bank. 

In this video, Amit discusses climate change and the role that central banks can play in helping navigate the economy towards net zero. Amit makes a compelling case for why climate change risk management should be included in the mandate for every central bank. 

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Central Banks and Climate Risk Management

12 mins 35 secs

Overview

Amit makes the case for central banks to address climate change as an issue beyond their core mandate. Ultimately arguing that climate change risk is entirely consistent with the central bank’s financial stability and price stability mandates. Central banks have multiple policy tools available to tackle climate change first hand - for example climate stress tests.

Key learning objectives:

  • Explain the relevance of climate change

  • Discuss climate risk in the context of the central bank’s mandate

  • List some of the actions undertaken by central banks

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Summary
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Expert
Amit Kara

Amit Kara

Amit is Associate Research Director for Global Macroeconomic Analysis at NIESR. He is a macroeconomist with experience in central banking, investment banking, commercial banking and corporate credit rating. He has most recently worked at HSBC where he helped design the forward economic guidance input for IFRS 9. Amit is currently working on two substantial research projects related to the macroeconomic impact of climate change.

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