Central banks and sustainability: a comprehensive review of green mandates, speeches, and actions

Abstract

In recent years, public attention to environmental issues, particularly climate change, has grown significantly. This increased awareness has prompted both public and private entities to take various actions, with central banks around the world being no exception. In most cases, the initial motivation for central banks to begin integrating environmental concerns into their policies has been the financial stability risks posed by environmental factors. However, as the discourse evolves, there is also an emphasis on how monetary policy should integrate climate change and environmental considerations. This paper aims to examine the various ways central banks are addressing these issues.