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How central banks are tackling climate change risks


How central banks are tackling climate change risks
(Credit: Unsplash)
This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.
Author: Silvia Anna Ainio, Policy Officer, European Commission
Central banks have an increasingly critical role in tackling climate change policy objectives.
Incorporating climate-related risks into regulatory frameworks remains challenging but central banks are starting to lead the way.
The case for incorporating climate change into macroeconomic modeling and investment decisions has never been stronger. Extreme weather events such as floods and storms have now become more frequent, and their impact on growth and inflation is increasingly visible and felt around the world. Recent research has shown how climate change can have a strong impact on the stability of the global banking system by increasing the frequency of banking crises in the medium to long-term. ....

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Cormann's new job is to fix capitalism to cut emissions: Aviva


Cormann’s new job is to fix capitalism to cut emissions: Aviva
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London | Mathias Cormann, incoming boss of the Organisation for Economic Cooperation and Development, has been urged to take leadership of a global overhaul of the international financial system so that it counters, rather than fuels, climate change.
The former Australian finance minister takes the reins in June, and the £405 billion ($725 billion) fund manager Aviva Investors says he will run the only international body fully equipped to drive the global financial reforms needed to reach net-zero carbon emissions.
Into the global spotlight: former finance minister turned OECD secretary general Mathias Cormann.  ....

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Ex-Jones Day partner launches sustainability-focused boutique in Hong Kong


Ex-Jones Day partner launches sustainability-focused boutique in Hong Kong
08 February 2021
Ben McQuhae & Co will choose work based on the UN s Sustainable Development Goals
Ben McQuhae
Former Jones Day partner Ben McQuhae has launched a boutique law firm in Hong Kong that will be focused entirely on sustainability and innovation.
The eponymously named Ben McQuhae & Co says it aims to operate at the intersection of law, ESG and technology, providing advisory services to multinationals, small and medium-sized companies, investors, startups and entrepreneurs. The focus will be on transactions and other initiatives related to climate, biodiversity and innovation.
In a statement, the firm said: “We will choose the work we do, and do not do, by reference to the UN Sustainable Development Goals (SDG). We will assess our mandates and measure our impact against the SDGs.” ....

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