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8. Quel rôle pour les banques centrales face aux risques climatiques et autres « Cygnes Verts » ?

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  • Patrick Bolton
  • Morgan Després
  • Luiz A. Pereira da Silva
  • Frédéric Samama
  • Romain Svartzman

Abstract

Climate change poses new systemic risks (known as ?Green Swans?) that must be addressed by central banks within their financial stability mandate. However, the identification and management of climate-related physical and transition risks are hindered by radical uncertainty and potentially existential threats, as well as by the need for a structural transformation toward a low-carbon economy. In this context, central banks cannot rely on traditional risk management approaches and need to explore new perspectives. In particular, the coordination of central banks? own actions with other measures (of a fiscal, regulatory, or accounting nature) becomes essential for managing a new type of systemic ecological risk, including but not limited to climate change.

Suggested Citation

  • Patrick Bolton & Morgan Després & Luiz A. Pereira da Silva & Frédéric Samama & Romain Svartzman, 2020. "8. Quel rôle pour les banques centrales face aux risques climatiques et autres « Cygnes Verts » ?," Regards croisés sur l'économie, La Découverte, vol. 0(1), pages 110-122.
  • Handle: RePEc:cai:rcedec:rce_026_0110
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