Overview
This assignment was locked Dec 14 at 11:59pm.
Final Paper (10%): The Final paper is essentially an extended version of a memo. A list of suggested topics is given in the "Final Paper Topics" folder. Alternatively, you may offer your own unique topic by submitting a proposal to Professor Metrick or Roz Wiggins for preapproval before December 7th. Papers must be no longer than six double-spaced pages. Papers must be submitted via Canvas no later than 11:59 PM on December 14th.
Climate change has been accepted by the governments of many major economies as a potentially significant risk to the stability of the financial system. Major agencies such as the Federal Reserve, the ECB, the Bank of England, and the Financial Stability Board are taking steps to stay informed of the risks and are struggling with how best to manage the risks and prepare individual institutions and the system to withstand the effects of such risks. Review and discuss the approach taken by one of these central banks to monitor and prepare for climate change risks. What are the strengths and weakness of the chosen approach? How does the approach compare with that of other central banks or best practices?” FSB Roadmap for Addressing Climate-Related Financial Risks: https://www.fsb.org/wp-content/uploads/P070721-2.p... • US-Agencies issue principles for climate-related financial risk management for large financial institutions • https://www.federalreserve.gov/newsevents/pressrel... creg20231024b.htm • Climate change | Bank of England • Bank of England publishes the key elements of the 2021 Biennial Exploratory Scenario: Financial risks from climate change | Bank of England • Guide on climate-related and environmental risks (europa.eu)