Central banks and supervisors need to consider climate change and biodiversity loss, which are interconnected and mutually reinforcing. Looking ahead, dealing with nature-related risks may also involve transition plans. Transition plans are crucial to credible implementation.

The panel discussed:

• how central banks and supervisors should adjust to better capture climate-related impacts;
• the effects of tighter monetary policy on climate investments in industrialized economies and their implications for emerging markets and developing economies; and,
• what transition plans should entail and the objectives they should serve.

Opening Remarks:

The Honourable Ahmed Hussen, Minister of International Development, Government of Canada

Panelists:

The Honourable John Rwangombwa, Governor, National Bank of Rwanda

Sabine Mauderer, Vice-Chair, Network for Greening the Financial System; Board Member, Deutsche Bundesbank

Jean-Paul Servais, Chair, IOSCO Board; Chair, Belgium's Financial Services and Markets Authority

Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges Riksbank (Central Bank of Sweden)

Moderator:

Jean Pesme, Global Director, Finance, Competitiveness & Innovation, World Bank

Read the transcript here. Read their biographies here.