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The macroprudential challenge of climate change

Seminar part of the FBF series “Finance in the Tuscan Hills”


10 October 2022

11:30 - 13:15 CET


Sala Triaria

Villa Schifanoia

In this seminar, experts from the Systemic Risk and Financial Institutions Division of the European Central Bank (ECB) will present the latest ECB/ESRB report on climate change.

Past years have seen the development of analytical foundations for measuring climate-related financial risk by linking climate vulnerability to standard financial risk measurement. The latest ECB/ESRB report on climate change raises the understanding of the interdependencies and spillovers to gauge implications for systemic risk. In addition, the work focussed on a forward-looking dynamic view of the modelling of financial stability risks stemming from climate change, noting that the past is unlikely to be a good guide. To contain future systemic risks from climate change to the financial system, macroprudential policy may have an important role to play. The report discusses the options for delivering a coordinated European macroprudential response, and considers a range of possible instruments that could be used in this respect.

The event will be in hybrid format and can be followed online through the link received after the registration.

Scientific Organiser

Florence School of Banking and Finance


Stephan Fahr

European Central Bank

Paul Hiebert

European Central Bank

Prof. Thorsten Beck

Florence School of Banking and Finance

Irene Monasterolo

EDHEC Business School

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