Central Banks and Climate Risk Management
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.
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
Summary
Expert
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.
