Network for Greening the Financial System

released 24 June 2020

The report investigates the possible effects of climate change on the determinants of monetary policy. Compiled by the NGFS group of experts on monetary policy and climate change, the report finds that climate change and its mitigation will increasingly affect macroeconomic variables essential to the conduct of monetary policy. It highlights the need for central banks to strengthen their analytical toolkits, integrating climate risks into their economic models and forecasting tools.