The impacts of climate change are intensifying, and countries most vulnerable to its effects face mounting damages in the absence of robust resilience measures, says David Ryfisch of @germanwatch.bsky.social.

October’s biggest green finance stories — in case you missed them🧵 🗳️ EU politicians reject sustainability proposals in secret vote: A surprise ballot in the European Parliament saw vital green finance amendments struck down.

A @exeter.ac.uk report shows the world has breached its first #ClimateTippingPoint, with global warming set to reach 1.5°C. 🌍 @professorstevekeen.bsky.social of @ucl.ac.uk#ClimateTippingPoint,said “the report should be the wake-up call for any government”

✍️ @billmckibben.bsky.social of @350.org & @thirdactorg.bsky.social responds to Bill Gates’ climate letter — which tells leaders to back off emissions cuts and focus on health and prosperity, as they are the best defense against climate change. 

The impacts of climate change are intensifying, and countries most vulnerable to its effects face mounting damages in the absence of robust resilience measures, says David Ryfisch of @germanwatch.bsky.social. greencb.co/47JLvsb

61% of banks have no policy to help high-emitting clients transition, according to @tpicatlse.bsky.social’s State of the Banking Transition report. 🌍💼 Banks are backtracking on climate goals amid US political backlash.

At the Finance on the Brink summit last month, by @greencb.bsky.social, EBI & @uc3m.es, young scholars shared ideas on the future of central banking, monetary policy & #SustainableFinance. 🌍💬 We asked some of the brightest up-and-comers to share their answers 👇

📣 We’re hiring a writer to join our editorial team at Green Central Banking. Help cover how central banks and regulators are responding to the climate crisis. Details here 👇

61% of banks have no policy to help high-emitting clients transition, according to @tpicatlse.bsky.social’s State of the Banking Transition report. 🌍💼 Banks are backtracking on climate goals amid US political backlash.

#GreenCentralBanking roundup: 🇯🇲 Catastrophe bond in spotlight as Hurricane Melissa slams Jamaica 🇪🇺 Lagarde pushes for capital markets union to boost EU energy transition ⚖️ ExxonMobil sues California over climate transparency laws And more 👇

In a surprise move, the EU parliament rejected a proposal that would water down climate reporting requirements and lower the scope of coverage for thousands of EU firms.

African nations contribute 4% of global CO2 but face the higher costs of capital for energy projects — 15.6% vs 5% in EU 🇪🇺 & US 🇺🇸 Fundi Tshazibana of South African Reserve Bank & NGFS says central banks must support #ClimateResilience without risking inflation. 📈

#GreenCentralBanking roundup: 🇯🇲 Catastrophe bond in spotlight as Hurricane Melissa slams Jamaica 🇪🇺 Lagarde pushes for capital markets union to boost EU energy transition ⚖️ ExxonMobil sues California over climate transparency laws And more 👇

In this week’s Dispatch: 🇪🇺 EU vote blocks rollback of climate reporting 📉 Bénassy-Quéré backs reform without losing ambition 🌍 NGFS’s Tshazibana rejects green dual rates for Africa 🇬🇧 Climate-linked food inflation hits BoE targets Subscribe 👇

In a surprise move, the EU parliament rejected a proposal that would water down climate reporting requirements and lower the scope of coverage for thousands of EU firms.

#GreenCentralBanking roundup: 🇯🇲 Catastrophe bond in spotlight as Hurricane Melissa slams Jamaica 🇪🇺 Lagarde pushes for capital markets union to boost EU energy transition ⚖️ ExxonMobil sues California over climate transparency laws And more 👇 greencb.co/48Y7DBn

African nations contribute 4% of global CO2 but face the higher costs of capital for energy projects — 15.6% vs 5% in EU 🇪🇺 & US 🇺🇸 Fundi Tshazibana of South African Reserve Bank & NGFS says central banks must support #ClimateResilience without risking inflation. 📈

Novel risks like those from climate change are emerging across Asean+3. Conventional risk models can’t capture them. Policymakers & central banks must adopt forward-looking, resilience-focused approaches to safeguard stability.

African nations contribute 4% of global CO2 but face the higher costs of capital for energy projects — 15.6% vs 5% in EU 🇪🇺 & US 🇺🇸 Fundi Tshazibana of South African Reserve Bank & NGFS says central banks must support #ClimateResilience without risking inflation. 📈

In a surprise move, the EU parliament rejected a proposal that would water down climate reporting requirements and lower the scope of coverage for thousands of EU firms.

#GreenCentralBanking roundup: 🇬🇧 Climate impacts drive UK food price surge 🇳🇿 New Zealand launches national climate adaptation plan 🏥 Capping Africa’s debt costs could save lives And more 👇

Novel risks like those from climate change are emerging across Asean+3. Conventional risk models can’t capture them. Policymakers & central banks must adopt forward-looking, resilience-focused approaches to safeguard stability.

It’s official — the Net-Zero Banking Alliance has closed its doors, ending its role as a membership organisation and converting to an archive of climate-target guidance, writes @eugeneellmen.bsky.social. 🌍🏦 What does this mean for the climate transition? https://greencb.co/49ep40q #NBZA

Under #DonaldTrump, US regulators have paused or rolled back climate initiatives. 🇺🇸🌍 “It’s easier to make an ideologically driven decision... if you don’t have the expertise in the room,” said @alexmartin196.bsky.social of @ourfinancialsecurity.org#DonaldTrump,

African nations contribute 4% of global CO2 but face the higher costs of capital for energy projects — 15.6% vs 5% in EU 🇪🇺 & US 🇺🇸 Fundi Tshazibana of South African Reserve Bank & NGFS says central banks must support #ClimateResilience without risking inflation. 📈

🇺🇸 US federal bank regulators — @federalreserve.gov, FDIC & Office of the Comptroller of the Currency — have withdrawn from the principles governing climate-related financial risk management for large financial institutions which were first issued in 2023. https://greencb.co/42PiWI2 #ClimateRisk

In a surprise move, the EU parliament rejected a proposal that would water down climate reporting requirements and lower the scope of coverage for thousands of EU firms. greencb.co/4hIUWg9

#GreenCentralBanking roundup: 🇬🇧 Climate impacts drive UK food price surge 🇳🇿 New Zealand launches national climate adaptation plan 🏥 Capping Africa’s debt costs could save lives And more 👇 greencb.co/3WlUaf0

Novel risks like those from climate change are emerging across Asean+3. Conventional risk models can’t capture them. Policymakers & central banks must adopt forward-looking, resilience-focused approaches to safeguard stability. greencb.co/4nzU9iV

Investment managers use the idea of fiduciary duty as a justification for both action and inaction on climate risk, finds a new US report co-authored by Cynthia Hanawalt of @sabincenter.bsky.social The report explores explores #FiduciaryDuty & #ClimateRisk

It’s official — the Net-Zero Banking Alliance has closed its doors, ending its role as a membership organisation and converting to an archive of climate-target guidance, writes @eugeneellmen.bsky.social. 🌍🏦 What does this mean for the climate transition? https://greencb.co/49ep40q #NBZA

🇺🇸 US federal bank regulators — @federalreserve.gov, FDIC & Office of the Comptroller of the Currency — have withdrawn from the principles governing climate-related financial risk management for large financial institutions which were first issued in 2023. https://greencb.co/42PiWI2 #ClimateRisk

🇺🇸 US federal bank regulators — @federalreserve.gov, FDIC & Office of the Comptroller of the Currency — have withdrawn from the principles governing climate-related financial risk management for large financial institutions which were first issued in 2023. https://greencb.co/42PiWI2 #ClimateRisk

Under #DonaldTrump, US regulators have paused or rolled back climate initiatives. 🇺🇸🌍 “It’s easier to make an ideologically driven decision... if you don’t have the expertise in the room,” said @alexmartin196.bsky.social of @ourfinancialsecurity.org#DonaldTrump,

Investment managers use the idea of fiduciary duty as a justification for both action and inaction on climate risk, finds a new US report co-authored by Cynthia Hanawalt of @sabincenter.bsky.social The report explores explores #FiduciaryDuty & #ClimateRisk

🇪🇺 Frank Elderson said the @ecb.europa.eu would not be taking a step back on climate and nature risks. Climate-related risks will continue to feature in the supervisory priorities despite political headwinds. https://greencb.co/3ICRdU9 #ClimateRisk

The US is sidelining #ClimateRisk ⚠️ This week’s Dispatch covers: 🇺🇸 Dismantled oversight at FSOC 📉 Kevin Stiroh on why climate shocks belong in risk models 🇧🇷 Brazil’s new green taxonomy 🌍 AfDB’s $145mn pledge for Niger Stay informed — sign up 👇  

Under #DonaldTrump, US regulators have paused or rolled back climate initiatives. 🇺🇸🌍 “It’s easier to make an ideologically driven decision... if you don’t have the expertise in the room,” said @alexmartin196.bsky.social of @ourfinancialsecurity.org#DonaldTrump,

🇺🇸 As Trump rolls back green policies, @federalreserve.gov’s former climate committee chair Kevin Stiroh told GCB’s @moriahcosta.bsky.social that central banks are within their mandate to consider physical and transition risks from climate change. https://greencb.co/3KQi7IX

Investment managers use the idea of fiduciary duty as a justification for both action and inaction on climate risk, finds a new US report co-authored by Cynthia Hanawalt of @sabincenter.bsky.social The report explores explores #FiduciaryDuty & #ClimateRisk

The financial turmoil of 2023 was not an anomaly but a symptom of a system ill-equipped for the profound shocks that may lie ahead, writes Sunil Sharma of George Washington University.  Sharma sets out five pillars for a simpler, more resilient financial system. 👇 🧵 https://greencb.co/3KQb2YA

Under #DonaldTrump, US regulators have paused or rolled back climate initiatives. 🇺🇸🌍 “It’s easier to make an ideologically driven decision... if you don’t have the expertise in the room,” said @alexmartin196.bsky.social of @ourfinancialsecurity.org#DonaldTrump,

🇪🇺 Frank Elderson said the @ecb.europa.eu would not be taking a step back on climate and nature risks. Climate-related risks will continue to feature in the supervisory priorities despite political headwinds. https://greencb.co/3ICRdU9 #ClimateRisk

🇺🇸 As Trump rolls back green policies, @federalreserve.gov’s former climate committee chair Kevin Stiroh told GCB’s @moriahcosta.bsky.social that central banks are within their mandate to consider physical and transition risks from climate change. https://greencb.co/3KQi7IX

#GreenCentralBanking roundup: 🇧🇷 Brazil breaks new ground, centring social justice in sustainable taxonomy ❌ Net-Zero Banking Alliance dissolves after mass exodus 🇪🇺 EU transition plan requirements face elimination amid political divisions And more 👇

The financial turmoil of 2023 was not an anomaly but a symptom of a system ill-equipped for the profound shocks that may lie ahead, writes Sunil Sharma of George Washington University.  Sharma sets out five pillars for a simpler, more resilient financial system. 👇 🧵 https://greencb.co/3KQb2YA

Sustainability leaders gathered in #Madrid for the “finance on the brink” conference — by @greencb.bsky.social, EBI & @uc3m.es — capturing a pivotal moment for #GreenFinance. GCB’s @ingridwss.bsky.social#Madrid#GreenFinance.akes a look at the key discussions from the event. 👇

After the East & SE Asia Green Central Banking Scorecard launch, Bangko Sentral ng Pilipinas’ Pia Tayag spoke to GCB's @moriahcosta.bsky.social 🇵🇭 The Philippines is facing disasters from climate change & BSP is working to make its financial system resilient to the risk

Climate-related social risks stem from climate impacts & policy shifts — driving inflation, migration & instability. 🌍⚖️ Alexander Weston & Judith Tyson of Just Transition Finance Lab say central banks must recognise these risks to strengthen financial stability.💰

Frank Elderson cautioned that “excluding too many firms from the #CSRD could impair the availability of comparable information about important parts of our economy.” That’s why we’re revisiting a year of @greencb.bsky.social#CSRDcoverage on the EU’s proposed sustainability omnibus reforms. 🧵