Central banks must address climate and nature-related financial risks

Summary: Frank Elderson, ECB Executive Board Member, emphasized at a Banco Central do Brasil event the importance of central banks addressing climate and nature-related financial risks. Global heating and nature degradation threaten economies and financial systems. International bodies like the BCBS and FSB are making progress in incorporating climate and nature risks into regulatory frameworks. The ECB has implemented measures to integrate climate and nature considerations into monetary policy and banking supervision.

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