Richard Berner, clinical professor of finance at the Stern School of Business, New York University, joins Natalia Ospina, deputy head of reports, OMFIF. They take a deep dive into the climate stress testing methodology that he developed with Nobel Prize in Economics winner Robert Engle and Hyeyoon Jung, financial economist at the Federal Reserve Bank of New York, which gauges the resilience of financial institutions to climate-related risks.
They discuss in detail how climate change could lead to a substantial increase in systemic risks in the banking sector. Financial institutions could find themselves looking to raise $70bn-$90bn, or between 20% to 30% of their equity to restore their prudential capital ratios as a result of climate change.
The role of just transition in developing sustainable cities
CalPERS on the global Covid-19 response and emerging market fixed income
Second quarter in focus
Euro area financial stability in the Covid-19 recovery
Comparing Chinese and Anglo-American public pension system
Ahead of the ECB
Fireside chat with the Federal Reserve Bank of St Louis
Cloud as an enabler of financial inclusion
Gender diversity in leadership and decision-making in the financial system
Innovation and evolution in payments and the role of central banks
Accessing investments in India
In conversation: The nature of money – Will currencies go digital and what does this mean for the euro?
Retail CBDCs: Policy implications and rollout strategies
Taking stock: ECB strategy review and monetary policy challenges
In conversation with Kevin Stiroh: The role of the Federal Reserve in mitigating climate related financial risk
Designing a financial system that responds to the climate threat and promotes a healthy planet
Overcoming monetary challenges during the pandemic: view from central Europe
In focus: DMI Journal and Symposium
Ahead of the ECB
Economics and diplomacy in the Americas under Biden
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