Online Conference - Climate Change: Economic Impact and Challenges for Central Banks and the Financial System
Climate change and the required transition to more efficient and sustainable energy use poses many challenges for society. There is still enormous uncertainty associated with this process and the related changes in policy, technology and sentiment. This uncertainty creates risks and opportunities that affect many economic decisions. Central bankers and financial system supervisors should assume their responsibility in this process within their mandate and with the instruments available to them. In order to contribute to this process, a good understanding of the potential impact of climate change on the macroeconomy and the financial markets is a necessary starting point. Both theoretical and empirical research can provide insight into how these factors are priced in financial markets, how they affect micro- and macroeconomic outcomes and how economic, monetary and macroprudential policies should respond.
Several new research results on these themes will be presented at our conference. Seven teams of Belgian and international researchers will set out their findings, each time followed by a discussion with international experts. In addition, we have invited Christian Gollier (Toulouse School of Economics), Irene Heemskerk (De Nederlandsche Bank and Network for Greening the Financial System), Irene Monasterolo (Vienna University of Economics and Business, and IIASA) to speak at the event.