These climate-related financial risks need to be considered: First, it is up to credit institutions to incorporate such risks into their risk management. In turn, central banks, in their role as banking supervisors and guardians of financial stability, must ensure that this is also carried out appropriately. But we shouldn’t (Tonne) just point the finger at others.
In terms of the standards to which we are holding credit institutions here, we, as central banks, should practice what we preach. All the more so since, basically, our financial assets can be just as exposed to financial risk as those of commercial banks.