Climate change’s impact on the macroeconomy
As climate change drives more frequent and severe weather events and as governments across the world implement policies to transition their economies to net zero, policy-makers are becoming increasingly alert to the macroeconomic impacts over time. James Talbot, executive director of the international directorate at the Bank of England and chair of the Network for Greening the Financial System’s workstream on monetary policy, joins OMFIF to explore the macroeconomic implications of climate change.
He delves into relevant considerations for monetary policy-makers, considering the channels by which climate shocks affect the economy, the trade-offs they can present for policy-makers and steps that central banks are taking to reflect them in their analytical toolkits and macroeconomic models.
Speakers
Emma McGarthy
Head of the Sustainable Policy Institute
OMFIF
Emma McGarthy
Head of the Sustainable Policy Institute
OMFIF
Emma McGarthy is head of the Sustainable Policy Institute at OMFIF. She is responsible for researching trends, developing relationships and programming meetings for the Sustainable Policy Institute. Prior to joining OMFIF, McGarthy worked as a conference producer, developing and running international conferences in the tech, legal and finance sectors, leading on content, research and building key industry relationships.
James Talbot
Executive Director, International
Bank of England
James Talbot
Executive Director, International
Bank of England
James Talbot is executive director of the International Directorate of the Bank of England. He is responsible for the Bank’s international analysis and risk assessment which supports all of the Bank’s policy objectives. He is also the Bank’s Executive Sponsor for climate, overseeing the delivery of the Bank’s climate policy work, and represents the Bank in a number of international committees, including Chairing the Network for Greening the Financial System workstream on Monetary Policy.