Sabine Mauderer: Climate risk - the merits of transparency and the role of central banks

Speech by Dr Sabine Mauderer, Member of the Executive Board of the Deutsche Bundesbank, at the Central Bank of Brazil - Regulatory Webinar, Virtual Event, 24 November 2020.

1 Introduction

Ladies and gentlemen,

I would like to start by thanking the BCB - Banco Central do Brasil - and the German GIZ[for hosting this well thought out regulatory webinar. Let me also applaud the BCB for its Strategic "Agenda BC#".

"Agenda BC#" is a landmark statement on priorities of the central bank of Brazil, confirming its longstanding environmental commitment and shaping its DNA for the future.

2 Central banks of Brazil and Germany join forces within the NGFS

BCB joined the Network for Greening the Financial System this year. This network, also called NGFS, is a coalition of 75 central banks and supervisors to combat climate change with joint efforts globally. As a founding member, Bundesbank very much welcomes BCB's membership.