The role of central banks in the "macroeconomics of climate change"
· François Villeroy de Galhau, Governor of the Banque de France (France)
Summary written by Dark Majestic in its own words · topics: climate, energy and nature
FV · François Villeroy de Galhau Wiki · Banque de France WikiThe role of central banks in the "macroeconomics of climate change"ContextSpeech at City Week in London; the Banque de France keeps prices stable and studies what climate change means for central banks.
Why it mattersVilleroy warns central banks against doing too little or too much on climate.
Problems raised- Climate change has severe economic effects.
- The role of central banks in climate policy is debated.
- Central banks risk two opposite pitfalls on climate.
Solutions proposed- Integrate climate into macroeconomic analysis.
- Act within the central bank mandate.
- Support a coherent policy mix led by governments.
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