Financial Regulation, Climate Change, and the Transition to a Low-Carbon Economy: A Survey of the Issues

Released on by Mr. Dimitri G Demekas
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  • Financial Regulation, Climate Change, and the Transition to a Low-Carbon Economy: A Survey of the Issues Book Detail

  • Author : Mr. Dimitri G Demekas
  • Release Date : 2021-12-17
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 45
  • ISBN 13 : 1616356529
  • File Size : 59,59 MB
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Financial Regulation, Climate Change, and the Transition to a Low-Carbon Economy: A Survey of the Issues by Mr. Dimitri G Demekas PDF Summary

Book Description: There are demands on central banks and financial regulators to take on new responsibilities for supporting the transition to a low-carbon economy. Regulators can indeed facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated. Their diagnostic and policy toolkits are still in their infancy. They cannot (and should not) expand their mandate unilaterally. Taking on these new responsibilities can also have potential pitfalls and unintended consequences. Ultimately, financial regulators cannot deliver a low-carbon economy by themselves and should not risk being caught again in the role of ‘the only game in town.’

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