Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/253284 
Year of Publication: 
2022
Series/Report no.: 
OIES Paper: ET No. 10
Publisher: 
The Oxford Institute for Energy Studies, Oxford
Abstract: 
Central banks worldwide are stepping up actions in relation to climate change and taking on an increasingly important role in supporting the energy transition. Given the prominent role that central banks play in the financial markets and in influencing financing conditions, they can act as a powerful catalyst in addressing climate change. But their involvement and the potential consequences need to be evaluated in light of the trade-offs that central banks face. In this paper, we first focus on the European Central Bank and the Bank of England, as they are among the first and more active institutions that have been implementing 'green' policies. We then turn to central banks in developing countries, which have also been active in supporting the development of local green finance markets. However, governance and country-specific risks can impair central banks' efforts, especially in developing countries where these risks remain high.
Subjects: 
Bank of England
Central Banks
Climate Change
Energy Transition
European Central Bank
green bonds
green financing
Green Policies
Monetary Policy
Net Zero Pathways
ISBN: 
978-1-78467-197-6
Document Type: 
Working Paper

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