Climate risks: Central banks to the rescue?

Some fear 'mission creep' on the part of central banks but the climate crisis requires collective action on all fronts. Finance is one of those fronts.

The IMF has also incorporated climate risks into its financial stability surveillance and assessment frameworks of countries. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

A recent International Monetary Fund (IMF) blog stated that "climate change presents huge risks to the functioning of the world's economies", highlighting the imminent dangers posed by climate change to global macroeconomic and financial stability.

Globally, the task of keeping prices in check and preserving financial stability is one conventionally entrusted to central banks.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Find out more about climate change and how it could affect you on the ST microsite here.