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Commentary

Wed 6 Feb 2019 / Global

Central banks take on climate change

As 1,500 private jets flew into Davos to discuss climate change, the Central Banks' and Supervisors' Network for Greening the Financial System was meeting in Mexico. The network believes climate change is not only a threat to the environment; it also jeopardises the world's financial system, writes Danae Kyriakopoulou.

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Fri 2 Nov 2018 / Global

Incorporating climate risk in QE

Ensuring climate-related risk does not translate to financial instability is a key concern for central banks, but not an exclusive one. Central banks are tasked with safeguarding prosperity, which in turn requires that prosperity be generated sustainably. Monetary authorities should lead by example by supporting the transition to lower-carbon economies in their roles as investors. One controversial approach would be for central banks to take climate risks into account in the purchases that form part of their QE programmes.

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Wed 31 Oct 2018 / Global

Central banks greening financial system

Central banks' remits have changed profoundly since the 2008 financial crisis, notably – and sometimes controversially – in relation to their monetary policy practices and quantitative easing policies. Their remits are beginning to expand into another, unexpected field: climate change. The recognition of climate-related disruption as a source of financial risk is propelling this expansion, and central banks can leverage their influence through their capacity as both regulators and as reserves managers.

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Tue 31 Jul 2018 / Asia Pacific

Momentum in sustainable finance in Asia

The Bank for International Settlements, OMFIF and Amundi convened a meeting on how official institutions can help combat climate change. Opening remarks were delivered by Luiz Awazu Pereira da Silva, deputy general manager, Bank for International Settlements. He spoke about the importance of maintaining networks between central banks, along with the history of sustainable finance in central banking.

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Mon 16 Jul 2018 / Europe,Global

Smart finance for low-carbon transition

The low carbon transition represents a significant economic challenge, requiring the complementary actions of public authorities, economic actors and financial institutions. On the public side, policies are needed to put a price on carbon, such as cap and trade or a carbon tax, as well as an overall framework that fosters long-term decisions. Transition-conscious companies must develop or seek out technologies and deploy new solutions and products. Developing smarter finance matters for the transition beyond mere financing.

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Mon 19 Feb 2018 / North America,Europe

Pension funds divest from fossil fuels

Public pension funds are tasked with safeguarding the financial futures of their members, which requires making the best possible investment choices. There is a glaring irony when those choices may endanger the lives they are intended to support, such as when pension funds finance fossil fuel production. Public investment funds have a social function. Pressure to find the best returns have compromised this role. Policy-makers and fund managers must address how pension funds are contributing to global warming.

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Wed 11 Oct 2017 / Africa

Barclays Africa Group Financial Markets Index 2017

Africa’s large, youthful and dynamic markets present opportunities for growth on the continent. However, foreign and local investment prospects are hampered by several factors, including underdeveloped financial markets and unclear legal and regulatory frameworks. These are some of the conclusions drawn from the Africa Financial Markets Index - a newly released index produced by think tank OMFIF and sponsored by Barclays Africa Group Limited (BAGL).

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Wed 13 Sep 2017 / North America,Middle East,Europe

Financing future energy

Green energy was the theme of Expo 2017, the international exposition hosted by Kazakhstan between June and early September, though the more marketable and less contentious phrase 'future energy' adorned the official logo. Making tangible progress on green energy is a challenge for all nations, especially those with ample natural resources and powerful interest groups resistant to change. It is essential for policy-makers and multinational institutions to become more active in financing renewable initiatives.

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Wed 16 Aug 2017 / Europe

Financing a sustainable world

Green banks have low carbon investment as their main remit, channelling public and private finance towards accelerating a global transition to a greener economy. The UK Green Investment Bank has committed almost £3.5bn to 100 projects in five years.

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Tue 18 Jul 2017 / Europe

Solar energy in Europe’s south

If Greece is to overcome its economic crisis it has to abandon the borrow-and-import model of past decades and find a new economic paradigm that allows it to achieve a sustainable recovery. A promising source of growth, and exports, is solar energy. Greece has 300 days of sunshine a year and 50% higher solar radiation – which converts into power – than central European countries.

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