Managing climate change risk: a responsibility for politicians not Central Banks

Peterson Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: This article discusses the need for climate change risk mitigation and why it is not the responsibility of Central Banks to mitigate climate change risk. The paper argues that the responsibility for managing climate change risk should lie with elected officials, other groups and institutions but not Central Banks. Elected officials, or politicians, should be held responsible to deal with the consequence of climate change events. Also, international organizations and everybody can take responsibility for climate change while the Central Bank can provide assistance - but Central Banks should not lead the climate policy making or mitigation agenda.

Keywords: Climate change; environment; Central Bank; government; atmosphere; financial stability; risk management; climate change risk; financial sector; responsibility; financial institutions. (search for similar items in EconPapers)
JEL-codes: G28 Q54 Q56 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-cba, nep-ene, nep-env, nep-mon and nep-rmg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:113468

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