RBNZ concerned on the systemic impact of climate change on the economy, financial system
The Reserve Bank of New Zealand particularly citing drought and other sever weather conditions.
The Bank has published a piece by Reserve Bank Assistant Governor Simone Robbers with this (bolding mine):
- As the systemic impact of climate change on the economy and the financial system becomes clearer, the responses of central banks and regulators around the world have been evolving rapidly too.
- While there's variation in our individual mandates, at their heart they are about stability. Stability in terms of prices - monetary stability. And stability in terms of the broader financial system - financial stability.