Haruhiko Kuroda: Addressing Climate-Related Financial Risks -- From A Central Bank's Perspective
Opening remarks by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the International Research Workshop on Climate-related Financial Risks, hosted by the Financial System and Bank Examination Department, Bank of Japan.
Introduction
It is a great honor for us to welcome experts from many countries today to the International Research Workshop on Climate-related Financial Risks, hosted by the Bank of Japan's Financial System and Bank Examination Department. On behalf of the organizers, I would like to thank you for your attendance. I wish we could meet face to face, but at the same time, I recognize the benefit of online meetings, as we can join discussions across the world without the burden of travel.
The topic of this workshop is climate-related financial risks, that is, the risks that climate change might destabilize the financial system through a variety of channels. This workshop is the first event held by the Bank of Japan on how climate change interacts with the economy and the financial system. Today, I would like to begin by offering my thoughts on the relationship between climate change and central banks. I will then share my view on climate-related financial risks, and outline the efforts being made by the Bank of Japan. To conclude my remarks, I would like to touch on what we can expect from the discussions at this workshop.
- Climate Change and Central Banks
It is becoming widely accepted that climate change brings dangers that could have a profound effect on society and the economy around the globe, and that the reduction of greenhouse gas emissions is essential for the sustainable development of civilization.
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