Green Swan 2022

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)

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.

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.

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.

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. 

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.