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What can central banks do to take the Paris Agreement seriously?
What can central banks do to take the Paris Agreement seriously?
While global emissions continue to increase, banks continue to finance the expansion of the fossil-fuel industry. At the systemic level, this trading is a pretence of financial stability now for a more disorderly transition scenario with greater financial instability later. This Policy Brief proposes that central banks should take a macro approach to managing system-wide risks stemming from the climate transition.