Green Swan 2022
A virtual conference co-organised by the Bank for International Settlements, the European Central Bank, the Network for Greening the Financial System and the People's Bank of China.
Building on the foundation of the inaugural Green Swan Conference in 2021, which brought together a wide range of high-calibre policymakers, experts and practitioners from different sectors, Green Swan 2022 offers a deeper dive into the topics of (i) monetary policy setting and operations in the context of climate change, and (ii) the role of finance in the climate transition, including transparency and disclosures, transition plans and financing green innovation.
Opening event

After an introduction to the Green Swan Conference by Luiz Pereira, Ravi Menon explains why it is imperative for central banks and supervisors to consider climate-related risks in fulfilling their mandates. In his capacity as Chair of the Network for Greening the Financial System, he also highlights the 2022-24 work programme for the NGFS. (link to speech text)
Session 1: The role of finance in climate transition

In his keynote speech, Zhou Xiaochuan highlights how a massive mobilisation of financial resources, as well as the appropriate incentives, are needed for the transition. Carbon pricing and trading have an important role to play on a global scale.

In this roundtable discussion, experts from different fields analyse issues relating to financing the green transition, spanning from market failures to the need for climate justice, from regional considerations to the need for international cooperation.
Session 2: Monetary policy setting and operations in the context of climate change

Some central banks have started implementing monetary policy operations with a climate-related angle. What lessons have they learnt? What challenges do they face? Central bankers from around the world share their experience.

In this lecture, Markus Brunnermeier outlines different paths for the green transition to happen and presents the pros and cons of various policy options to encourage that transition.
Special event

In this special address, Nobel laureate Al Gore delivers a stark call for the financial sector to act ethically and forcefully to transition away from carbon, and provides direction on how to achieve this.
Session 3: Transition plans in the private sector

In this keynote speech, Klaas Knot explains why it is essential that the move to net zero is underpinned by a resilient financial system, one that can manage the challenges associated with climate change and can propel the green transition forward.

What makes a good transition plan to reach net zero? What can be done about the risk of greenwashing? How can the public sector help? Experts from the public and private sectors discuss.

After an introductory presentation by Laura Cozzi on investment and innovation to reach net zero by 2050, the panel of experts from the private and public sectors discuss their experience and challenges with financing green innovation and investment.
Closing event

In the closing high-level panel of the Green Swan 2022, the heads of the BIS, Central Bank of Brazil, European Central Bank, Bank of France and People's Bank of China discuss their work on climate, how it fits into their mandates, the prospects of "greenflation" and their wishes for a green transition of finance.
Names in alphabetical order
Magali ANDERSON | Chief Sustainability and Innovation Officer, Holcim |
Sarah BREEDEN | Executive Director, Financial Stability Strategy and Risk and member of the Financial Policy Committee, Bank of England |
Markus BRUNNERMEIER | Edwards S Sanford Professor of Economics and Director of the Bendheim Center for Finance, Princeton University |
Roberto CAMPOS NETO | Governor, Central Bank of Brazil |
Alice CARR | Executive Director for Public Policy, Glasgow Financial Alliance for Net Zero |
Bruno CARRASCO | Director General concurrently Chief Compliance Officer, Sustainable Development and Climate Change Department, Asian Development Bank |
Agustín CARSTENS | General Manager, Bank for International Settlements |
Laura COZZI | Chief Energy Modeller, International Energy Agency |
Masyita CRYSTALLIN | Special Advisor to the Minister of Finance of Indonesia; Sherpa for the Coalition of Finance Ministers for Climate Action |
Paulina DEJMEK HACK | Director for General Affairs, Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission |
Al GORE | Chairman, Generation Investment Management |
Fernanda GUARDADO | Deputy Governor, Central Bank of Brazil |
Daniel HANNA | Global Head of Sustainable Finance, Standard Chartered Bank |
Alexander HARTMAN | Chief Financial Officer, Northvolt |
Irene HEEMSKERK | Head of Climate Change Centre, European Central Bank |
Kamran KHAN | Managing Director, Head of ESG for Asia Pacific, Deutsche Bank |
Klaas KNOT | President, De Nederlandsche Bank; Chair, Financial Stability Board |
Sue LLOYD | Vice-Chair, International Sustainability Standards Board |
Christine LAGARDE | President, European Central Bank |
LYU Zheng | Deputy Secretary General of Monetary Policy Committee, People's Bank of China |
MA Jun | Co-Chair, G20 Sustainable Finance Working Group; Chairman, China Green Finance Committee; President, Beijing Institute of Finance and Sustainability |
Ravi MENON | Managing Director, Monetary Authority of Singapore; Chair, NGFS |
Ivan ODONNAT | Deputy General Director for Financial Stability and Operations, Banque de France |
Vivek PATHAK | Global Head of Climate Business, IFC - International Finance Corporation |
Luiz PEREIRA DA SILVA | Deputy General Manager, Bank for International Settlements |
Laura PIOVESAN | Deputy Director General, Projects Directorate, European Investment Bank |
Julia REINAUD | Senior Director, Europe, Breakthrough Energy |
Frédéric SAMAMA | Head of Strategic Development, S&P Global Sustainable1 |
Tokiko SHIMIZU | Assistant Governor, Bank of Japan |
Nicholas STERN | IG Patel Professor of Economics and Government and Chair of the Grantham Research Institute on Climate Change and the Environment, London School of Economics |
James TALBOT | Director, International Directorate, Bank of England |
François VILLEROY DE GALHAU | Governor, Banque de France |
YI Gang | Governor, People's Bank of China |
ZHOU Xiaochuan | Vice Chairman, Boao Forum for Asia; former Governor, People's Bank of China |