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Regulation: Central Banks Should Consider Climate and Biodiversity Shocks When Stress Testing Financial Institutions
November 1, 2022Deputy Governor of the Banque de France, the French central bank, Sylvie Goulard, stated in a speech on October 24 that central banks need to take more aggressive action regarding nature-related risk. She posited that “monetary assessments of ecosystem services have many limitations,” in part because of their complexity and also because “shocks” in one sector can have significant impacts on other sectors.
