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Climate risk 'no longer tragedy of the horizon' says ECB note as it models 5% hit to GDP

Climate change is no longer "the Tragedy of the Horizon" but an imminent danger, a note by the European Central Bank (ECB) warned, as its 'short-term' scenario analysis showed potential for a huge 5% hit to eurozone GDP from extreme physical climate risks.

Physical climate risks already feeding inflation, says NGFS chair

Physical climate risks are already feeding through to increased inflation, demonstrating that climate change "is within the core mandate" of central banks, according to the chair of the Central Banks and Supervisors Network for Greening the Financial System (NGFS).

Extreme weather could see 'severe' losses, NGFS short-term scenarios show

NGFS says updated scenarios signal two-to-four-times higher physical impacts

The Network for Greening the Financial System (NGFS) group of central banks and supervisors has called for more ambitious policies to tackle the 'first order' risk of climate change, as its updated scenarios showed two-to-four-times bigger physical impacts than its previous iterations.

People Moves, 19 January: Finnfund, Palatine, HSBC, Barclays ... and more

German central bank's Mauderer to lead NGFS

NGFS transition plan 'stocktake' due this week

The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) will publish its "stocktake" on transition plans this week, which one official said will demonstrate how "inconsistent" the global picture is.

We cannot ignore nature, warns German central bank

The profitability of banks will be put at risk if they continue to ignore nature-related risks, Deutsche Bundesbank's Sabine Mauderer warned,...

19 EU central banks adopt common sustainable investment principles

News round-up: Federal Reserve joins NGFS, BNP's energy transition fund, Poseidon Principles ... and more