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  • Perspective
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Climate change challenges for central banks and financial regulators

The academic and policy debate regarding the role of central banks and financial regulators in addressing climate-related financial risks has rapidly expanded in recent years. This Perspective presents the key controversies and discusses potential research and policy avenues for the future. Developing a comprehensive analytical framework to assess the potential impact of climate change and the low-carbon transition on financial stability seems to be the first crucial challenge. These enhanced risk measures could then be incorporated in setting financial regulations and implementing the policies of central banks.

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The authors would like to thank S. Breeden, G. Galati, M. Scott and E. Denbee for useful comments on earlier drafts of the paper. E.C. would like to acknowledge the support of the Swedish Foundation for Strategic Environmental Research (Mistra). J.R.C. and P.M. would like to acknowledge the support of Partners for a New Economy. Any views expressed are solely those of the author(s) and so cannot be taken to represent those of the Bank of England or DNB, or to state their policies.

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Correspondence to Emanuele Campiglio.

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Campiglio, E., Dafermos, Y., Monnin, P. et al. Climate change challenges for central banks and financial regulators. Nature Clim Change 8, 462–468 (2018).

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