Central Bank Collateral as an Instrument for Climate Mitigation

McConnell, Andrew; Yanovski, Boyan; Lessmann, Kai

doi:10.2139/ssrn.3630662

Cited by 3 publications

(2 citation statements)

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“…Similarly, van 't Klooster and van Tilburg (2020) propose green targeting of longer-term refinancing operations. Alternatively, the central bank collateral framework (the rules governing the eligibility of financial assets that commercial banks posit as collateral at the central bank) might include climate-related considerations (McConnell, Yanovski, and Lessmann 2020;Oustry et al 2020). In addition to using market-based incentives, central banks could request that banks allocate their credit according to certain sectoral quotas, as was done by the Reserve Bank of India and the Bangladesh Bank (Dikau and Ryan-Collins 2017).…”

Section: Green Monetary Policiesmentioning

confidence: 99%

Macrofinancial Risks of the Transition to a Low-Carbon Economy

Campiglio¹,

Ploeg

2022

Review of Environmental Economics and Policy

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Low-carbon activities include productive processes based on clean electricity or hydrogen, production of electricity through renewable energy sources, improvement in the energy efficiency of buildings and industry, electric mobility, and other similar activities. High-carbon activities include fossil extraction and distribution; production of electricity using fossil-fueled plants; carbon-intensive manufacturing processes in the steel, cement, chemical, and other industries; fossil-fueled transportation; and other activities that produce large carbon emissions.

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Section: Green Monetary Policiesmentioning

confidence: 99%

Macrofinancial Risks of the Transition to a Low-Carbon Economy

Campiglio¹,

Ploeg

2022

Review of Environmental Economics and Policy

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“…They show that GDCRs can reduce the pace of global warming and, thereby, decrease the physical financial risks. This reduction is quantitatively small but is enhanced when implemented in combination with green fiscal policies McConnell et al (2020). discuss potential green monetary-policy instruments to identify those most appropriate for supporting the transition process.…”

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confidence: 99%

Introducing Principles and Standards for Responsible Investment

Danilov

2023

WEIR

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The article provides information on the latest developments in the field of building sustainable finance standards as an integral element of the sustainable development model. The rapid growth of responsible investment naturally created a demand for the formation of principles and standards both for responsible investors themselves and for corporations wishing to attract responsible investments. The development of standards, norms and rules that ensure the effectiveness of responsible investments is carried out in close cooperation with international financial organizations, associations of market participants and regulators. The article presents a general picture of this process, including information about its main participants, their most important decisions and achievements in the field of implementing the concept of sustainable finance. It is divided into 4 blocks. The first block talks about the rules and regulations for responsible investment, including the requirements developed by such investors in relation to themselves. The second block briefly describes the process of standardizing the disclosure of non-financial information and the problems of ensuring its reliability. The standards for disclosure and confirmation of the reliability of information about the adherence of corporations to the principles of sustainable development create the basis for the formation of long-term trust, which is a prerequisite for the functioning of the sustainable development model. The third block briefly describes the styles of responsible investing and the trends in their application. The fourth block is devoted to proposals and projects for central banks to change their monetary policy in order to stimulate responsible investment. The article is aimed at the widest range of readers interested in the problems of responsible investment, focusing on the most important documents in this area developed abroad in recent years.

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Greening monetary policy: evidence from the People’s Bank of China

Macaire

Naef

2022

Climate Policy

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Central Bank Collateral as an Instrument for Climate Mitigation

Cited by 3 publications

References 30 publications

Macrofinancial Risks of the Transition to a Low-Carbon Economy

Macrofinancial Risks of the Transition to a Low-Carbon Economy

Introducing Principles and Standards for Responsible Investment

Greening monetary policy: evidence from the People’s Bank of China

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