Monetary Authorities’ Experience in Considering Climate Risks

Опыт монетарных властей по учету климатических рисков

Alina M. Grebenkina
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Alina M. Grebenkina: Russian Presidential Academy of National Economy and Public Administration; Lomonosov Moscow State University

Russian Economic Development, 2023, issue 11, 26-31

Abstract: The article provides a review how central banks consider climate risk while achieving goals of monetary policy and financial stability. The areas of considering contain the following: justification of the impact of climate risks on financial risks; conducting climate risk stress tests; introducing climate risks into economic models; obtaining quantitative assessment of the sensitivity of macroeconomic variables to climate risks; adjusting the monetary policy strategy. The article was written on the basis of the RANEPA state assignment research programme.

Keywords: monetary policy; climate-related risks (search for similar items in EconPapers)
JEL-codes: E52 E58 Q54 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:gai:recdev:r2390

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