The academic literature and policy discussions on the role that central banks and financial
supervisors (CBFS) should play in the ecological transition, almost nonexistent five years …

This article studies how institutional dynamics might affect and be affected by the
implementation of climate-related financial policies. First, we propose a three-dimensional …

In its 2021 strategy review, the European Central Bank's Governing Council unanimously
decided to make climate change one of its priorities for the coming years. In this article, we …

The EU today faces two dramatic challenges, which it can only successfully master by
relying on its banking system: the COVID-19 pandemic and the climate transition. The …

This article analyses the new challenges the ECB faces in implementing its monetary policy
and asks to what extent judicial review can help address these. The ECB mandate provides …

Abstract The European Central Bank's (ECB) market-based treatment of government debt
was an important cause of the 2010–2012 eurozone crisis. This article analyses the political …

Starting with a landmark speech by Mark Carney on the 'Tragedy of the Horizon'in 2015,
climate change entered central banking discourse, causing some of its key convictions to …

Central banks and financial supervision authorities increasingly acknowledge that climate
change poses significant threats to financial and monetary stability (NGFS, 2019; NGFS …

The transition to a net-zero carbon economy requires a major shift in financial flows.
Financial policy bodies—central banks, financial regulators and ministries of finance …

Spiralling inequality since the 1970s and the global financial crisis of 2008 have been the
two most important challenges to democratic capitalism since the Great Depression. To …