Projects: General INSPIRE

Serafín Martínez Jaramillo (Banco de México) will present the paper “Climate Risk and Financial Stability in the Network of Banks and Investment Funds” co-authored with Alan Roncoroni (University of Zurich), Stefano Battiston (University of Zurich; Ca Foscari University of Venice), Luis Onésimo Leonardo Escobar Farfàn (Banco de Mexico).

The NGFS-GRASFI-INSPIRE exchange is designed to strengthen the connection, collaboration and research exchange between the central bankers, financial supervisors and the academic community to share and explore new and innovative research that advances the agenda on greening the financial system. New editions occur monthly and are co-organised by the NGFS Secretariat, INSPIRE and GRASFI (the NGFS’ two designated global research stakeholders). This 7th edition is hosted by the NGFS

The International Network for Sustainable Financial Policy Insights Research and Exchange (INSPIRE) is an independent network purpose-built to commission insights from best-in-class scholars and analysts in all parts of the world. As well as commissioning new research, INSPIRE also seeks to communicate the results widely and convene researchers, policymakers and practitioners. The focus of INSPIRE is on the research challenges facing central banks and supervisors as they work to identify their role in responding to environmental challenges, such as climate change.

In April 2019, the Network for Greening the Financial System (NGFS), an international coalition of 30+ central banks and supervisors, published its first comprehensive report on the state of practice, identifying key priorities for future action, including a range of research questions. INSPIRE along with GRASFI have been chosen by NGFS to be Global Research Stakeholders.

The aims of the workshop are: first, to provide an opportunity to explore the NGFS’ research agenda in-depth; second, to share knowledge and experience from across the INSPIRE network, including from its first call for research proposals; third, to generate useful insights for both policymakers and researchers: a synthesis report will be produced and published in October.
With the research gaps to be filled becoming clearer to central banks and the research community, it is now time to drill deep into the critical issues that need further exploration. To this end, the workshop will address one specific central issue from each NGFS workstream as well as a critical cross-cutting priority

lain Naef (Banque de France) will present his research ‘Greening Monetary Policy: Evidence from the People’s Bank of China‘  co-authored with Camille Macaire (Banque de France).

The NGFS-GRASFI-INSPIRE exchange is designed to strengthen the connection, collaboration and research exchange between the central bankers, financial supervisors and the academic community to share and explore new and innovative research that advances the agenda on greening the financial system. New editions occur monthly and are co-organised by the NGFS Secretariat, INSPIRE and GRASFI (the NGFS’ two designated global research stakeholders). This 10 edition is hosted by the NGFS

Andy Pitman (University of New South Wales) and Tanya Fiedler (University of Sydney Business School) will present their recent paper “Business risk and the emergence of climate analytics” co-authored with Kate Mackenzie, Nick Wood (Climate Policy Research), Christian Jakob (Montash University) & Sarah E. Perkins-Kirkpatrick (University of New South Wales).

The NGFS-GRASFI-INSPIRE exchange is designed to strengthen the connection, collaboration and research exchange between the central bankers, financial supervisors and the academic community to share and explore new and innovative research that advances the agenda on greening the financial system. New editions occur monthly and are co-organised by the NGFS Secretariat, INSPIRE and GRASFI (the NGFS’ two designated global research stakeholders). This 9 edition is hosted by the NGFS

Ulrich Volz (SOAS Centre of Sustainable Finance; German Development Institute; INSPIRE), Nick Robins (Grantham Research Institute, LSE), Shamshad Akhtar (Karandaaz Pakistan), Danae Kyriakopoulou (OMFIF) and Adam Tooze (Columbia University) discuss how central banks can fulfil their mandates for financial stability and align their COVID response measures with the Paris agreement in order to avoid locking in to a high carbon recovery. The panel look beyond short-term view of current prices and discuss broader trends and changes that may be occurring in the central banking space. The panel address questions such as ‘are we witnessing the dawn of a new era of central banking?’ and ‘what should the new normal for central banks look like?’.

Simon Dikau (Grantham Research Institute, LSE), Nick Robins (Grantham Research Institute, LSE) and Ulrich Volz (SOAS Centre of Sustainable Finance; German Development Institute; INSPIRE) present ‘Designing Sustainable Crisis Responses for Central Banks and Supervisors’ with responses from Chris Faint (Bank of England) and Adele Morris (The Brookings Institution; INSPIRE).
Event organised by GRASFI – The Global Research Alliance for Sustainable Finance and Investment and hosted by Columbia Center on Sustainable Investment

Across four days, the INSPIRE community and over 100 participants from NGFS member central banks and supervisors were brought together. Researchers shared the first research findings of their projects and discussed challenges experienced and lessons learned with a focus given on the implications of their research findings for central banks and financial supervisors to mainstream green finance through the policy response to COVID-19.