Activities which know no taboos and cover all the core missions of central banks and supervisors: microprudential, macroprudential and monetary policy. NGFS activities Let me outline some of the ongoing activities of the NGFS that contribute towards taking immediate action to deal with climate-related risks.
I will base this discussion on what the green swan book refers to as two “epistemological breaks” that central banks and supervisors need to consider. Two ways to radically revisit conventional thinking and attitudes towards policy action. Two paths to do justice to the exceptional nature of the climate crisis. Two avenues for immediate action.