The Bundesbank was a founding member of this Network for Greening the Financial System, or NGFS for short. It today boasts 46 central banks and supervisors as well as nine observers, including the IMF, the BIS and others. Our aim is to act in an internationally consistent manner and pool our expertise.
Only thus can we mount a global response to this new challenging financial risk. We are focusing on how we can mitigate the financial risks stemming from climate change, particularly in the monitoring of financial stability and in banking supervision.