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Prudential financial regulators, central banks, and regulatory authorities have increasingly come to recognize that they have a role to play in dealing with climate change. This should not be surprising, considering the extent to which finance plays a role in the everyday life of any society. By the same token, small changes in financial regulation […]
Climate policy faces the challenge of dealing with pervasive and massive externalities compounded by crucial market failures. The price system, left to its own devices, is incapable of adequately dealing with this challenge and requires the support of appropriately crafted policy. However, this policy needs to be as pervasive as the climate challenge itself. Only […]
Prudential Financial Regulators, Central Banks and Regulatory Authorities have increasingly come to recognize that they have a role to play in dealing with climate change, including climate disasters such as storms, tornadoes and tsunamis. Such events impact the economy by destroying physical assets, income opportunities, credit worthiness and the fiscal base. In turn, the financial […]