Climate change and policy coordination - what can central banks do?
· Lesetja Kganyago, Governor of the South African Reserve Bank (South Africa)
Summary written by Dark Majestic in its own words · topics: inflation and price stability, climate, energy and nature, development and emerging economies
LK · Lesetja Kganyago Wiki · South African Reserve Bank WikiClimate change and policy coordination - what can central banks do?ContextLecture by Lesetja Kganyago, Governor of the South African Reserve Bank, at the Nelson Mandela University, Gqeberha, 19 October 2023.
Why it mattersKganyago rejects calls to tolerate higher inflation for climate policy.
Problems raised- Climate change caused deadly floods and droughts in South Africa.
- Climate policies may create price volatility.
- Some argue for tolerating higher inflation.
Solutions proposed- Coordinate climate policy with government.
- Keep low and stable inflation for emerging economies.
- Integrate climate risks into central bank work.
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