Category Archives: Climate Change

Coronavirus and Climate Change: Tragedies of the Horizon

By | March 18, 2020

Courtesy of Joseph Smith Can the current health crisis teach us about the looming environmental one?  I think so, particularly as a study of horizons in both time and space. While there is consensus among experts that climate change is real and its potential impact catastrophic or worse, there is also consensus that the worst-case… Read More »

Testimony of the Honorable Sarah Bloom Raskin Before the Senate Democrats’ Special Committee on the Climate Crisis

By | March 17, 2020

Courtesy of Sarah Bloom Raskin On Thursday, March 12, 2020, the Senate Democrats’ Special Committee on the Climate Crisis had a hearing on “The Economic Risks of Climate Change.” One of the witnesses, Sarah Bloom Raskin, provided the following testimony:   Chairman Schatz and members of the Committee, thank you for inviting me here to… Read More »

Dealing with the Carbon Bubble: The Senate Select Committee on the Climate Crisis

By | March 12, 2020

Courtesy of Graham Steele  Introduction  Today, the Senate Select Committee on the Climate Crisis has convened a hearing about the potential financial risks from climate change. This hearing is the culmination of years of expert warnings about the risks of a growing carbon bubble that, like other asset bubbles, could result in stranded assets and… Read More »

Central Banks in the Hot Seat: How Should Central Banks Join the Fight Against Climate Change?

By | February 10, 2020

Courtesy of Juliana B. Bolzani Although some skepticism remains about the causes and effects of climate change, scientists have concluded that human activity is significantly accelerating global warming.  In response to this emergency scenario, important voices in the private and public sectors have stressed the need for action, standing in contrast with the US government’s… Read More »

Can Prudential Regulation Help the Transition to a Green Economy?

By | February 22, 2019

Courtesy of Lorenzo Esposito[1], Giuseppe Mastromatteo[2] and Andrea Molocchi[3] Among the many lessons learned by the financial industry, central banks, and economists in the wake of the global financial crisis, the most important may be the relevance of systemic risk. In a market dominated by multinational financial conglomerates, developments and disruptions in one country can… Read More »

Financial Development and Industrial Pollution

By | September 20, 2018

Courtesy of Ralph De Haas (EBRD) and Alexander Popov (ECB) At the 2015 Paris Climate Conference (COP21), the leaders of the G20 stated their intention to significantly scale up green-finance initiatives to fund low-carbon infrastructure and other climate solutions. A key example is the burgeoning market for green bonds to fund projects that save energy,… Read More »