Green Finance 2021 | Banque de France | 13 January 2021 | Online

The objective of this seminar is to present the new trends and dynamics in financial greening from the perspective of central banks' tasks. The latter may adopt socially responsible investment that incorporates climate change as part of their own-account operations. The seminar will also discuss the consideration of climate risk by monetary policy due to natural shocks and their consequences on the economy and growth. This seminar will detail the work of the NGFS (Network for the Greening of the Financial System) particularly from the point of view of monitoring the activities of commercial banks. It will also address the greening of finance in statistics and the balance of payments.

The following topics will be discussed:
• Climate risk and monetary policy: Implications of potential natural shocks for monetary strategy, including inflation targeting.
• Stress tests on the economy and the financial system (banking, insurance, markets).
• Current debate on the European taxonomy (labelling of funds, taking into account in ratings).
• Evaluation methods used by other institutions ;
• Assess the banks' climate commitment and lending policies.
• Monitoring green bonds: statistical issues, status of current issues, latest trends and dynamics in the green bond market