Managing climate change risk: a responsibility for politicians not Central Banks

Ozili, Peterson K (2021): Managing climate change risk: a responsibility for politicians not Central Banks. Published in:

Abstract

This article discusses the need for climate change risk mitigation and why it is not the responsibility of Central Banks to mitigate climate change risk. The paper argues that the responsibility for managing climate change risk should lie with elected officials, other groups and institutions but not Central Banks. Elected officials, or politicians, should be held responsible to deal with the consequence of climate change events. Also, international organizations and everybody can take responsibility for climate change while the Central Bank can provide assistance - but Central Banks should not lead the climate policy making or mitigation agenda.

• Item Type: MPRA Paper
• Language: English
• Keywords: Climate change, environment, Central Bank, government, atmosphere, financial stability, risk management, climate change risk, financial sector, responsibility, financial institutions.
• Subjects: G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q54 - Climate ; Natural Disasters and Their Management ; Global Warming; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q56 - Environment and Development ; Environment and Trade ; Sustainability ; Environmental Accounts and Accounting ; Environmental Equity ; Population Growth

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