Bank of England Embeds Climate Risk Into Core Monetary & Financial Stability Framework
Climate risk is no longer a theoretical overlay in central banking. It is becoming embedded in the day-to-day mechanics of monetary policy, supervision and financial stability. That is what James Talbot, Executive Director for International at the Bank of England, said while speaking at the London School of Economics. Talbot, who also chairs the monetary policy work-stream at the Network for Greening the Financial System, set out how the Bank is integrating climate considerations across its core objectives.