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Risks and Challenges of Ecological Transition for the Financial System: What Role for Central Banks?

Author

Listed:
  • Sara Goldman
  • Tsvetelina Marinova

    (LEFMI - Laboratoire d’Économie, Finance, Management et Innovation - UR UPJV 4286 - UPJV - Université de Picardie Jules Verne)

Abstract

The ecological transition poses the most impelling challenges for central banks, regulators and supervisory authorities. This paper explores the different types of risks associated with ecological transition. It deplores their absence in the instruments of control and regulation at a time when climate change threatens financial stability and can be at the root of a systemic crisis. Risk management is particularly sensitive given its uncertain nature. Nowadays, many actors, including governments, the private and public sectors, as well as part of the international community, are intervening to support the ecological transition. Nevertheless, it would appear that central banks are best able to meet these challenges. Keywords: ecological transition, climate, central banks, monetary policy JEL: F52, F58, Q54

Suggested Citation

  • Sara Goldman & Tsvetelina Marinova, 2022. "Risks and Challenges of Ecological Transition for the Financial System: What Role for Central Banks?," Post-Print hal-04930893, HAL.
    • Handle: RePEc:hal:journl:hal-04930893
    DOI: 10.37075/BJIEP.2021.2.04
    as

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    More about this item

    Keywords

    ecological transition; climate; central banks; monetary policy jel: f52; f58; q54;
    All these keywords.

    JEL classification:

    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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