Can Central Banks Go Green? The Interaction Between Monetary Policy and Climate Change

Xuan-Hoa Nghiem, Hai Hong Trinh and Ikram Ullah Khan

Chapter 9 in Handbook of Environmental and Green Finance:Toward a Sustainable Future, 2024, pp 275-294 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Since the 2030 Agenda for Sustainable Development was adopted by the United Nations in 2015 and combating climate change with urgent action is the 13th Sustainable Development Goal (SDG), the roles of financial sectors including central banking systems in facilitating sustainable finance have been documented (Dikau and Volz, 2019, 2021). Since the responsibility for financial and macroeconomic uncertainties is a part of the functionality of central banking systems as well as their regulatory control over credit, monetary, and financial systems, the allocations of green-oriented capital investments rely on their functionality and public financial governance policies. This chapter provides a literature review on central banking systems and their roles in fostering sustainable finance to mitigate climate change risk toward green growth.

Keywords: Green and Impact Bonds; Green Banking and Financing; Green Finance in Europe; ESG Performance; Climate Change; Climate Justice; Green Mortgages; Sustainable Transition; Renewable Energies; Green Transition in The EU (search for similar items in EconPapers)
JEL-codes: Q01 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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