I am thrilled to start my mandate as an Executive Board member today. It is an honour to be here.
Looking forward to working with a great team to deliver a stable euro for all Europeans.
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I am honoured the Eurogroup supported my candidacy for appointment as a member of the Executive Board. I look forward to the next steps in the process.
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The #Eurogroup supports the candidacy of Frank Elderson for the position of new member of the ECB's executive board.
I am honoured to be confirmed as Vice-Chair of the ’s Supervisory Board. Very much looking forward to working with supervisors across Europe for a safe banking system.
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Congratulations @FrankElderson on your confirmation as Vice-Chair of the @ecb’s Supervisory Board. We wish you all the best for your five-year term of office.
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The European Council #EUCO appointed @FrankElderson as a member of the @ECB's executive board.
He will take up his duties on 15 December 2020.
Check out our infographic 
europa.eu/!Xt34rn
Read more 
europa.eu/!Xt34rn
Read more I’m honoured to be nominated by the Dutch government as a candidate for membership of the executive board of the .
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Replying to @WBHoekstra
The Netherlands has nominated Frank Elderson as candidate for the vacancy at the @ecb Executive Board. He has a great track record on topics that the ECB is also working on: sustainable finance and digital innovation.
I am honoured the Economic and Monetary Affairs Committee of the European Parliament supported my candidacy to become member of the Executive Board. I look forward to the next steps in the process.
I would like to thank for supporting my candidacy to become a member of the Executive Board. I look forward to the last step in the process. My candidacy will be on the agenda for the meeting of 10 and 11 December.
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Green light from @Europarl_EN for @FrankElderson to sit on @ecb Executive Board. 319 in favour, 202 against, 171 abstentions. EP remains concerned about gender balance. europarl.europa.eu/news/en/press-
Great news this morning on climate here !
- Our new climate change centre will strengthen our work on this key topic ecb.europa.eu/press/pr/date/
- Investing in the green bond investment fund for central banks will make us greener and more sustainable ecb.europa.eu/press/pr/date/
The EU Treaties provide vital policy space for us at the ECB to tackle climate change. They tell us what we are required to do, what we could do and where the limits are to address future challenges. This is what I argue in my first ECB blog post ecb.europa.eu/press/blog/dat 1/5
The financial risks that stem from a loss in biodiversity are a serious threat to the financial sector and policymakers and regulators urgently need to understand them better.
This new Study Group with and @INSPIRE_sec will provide a key contribution for that!
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Today, the @NGFS_ and INSPIRE -one of the NGFS research stakeholders- announced the launch of a joint Study Group on ‘Biodiversity and Financial Stability’.
@INSPIRE_sec @NVJRobins1 @MJ_GreenFinance
Read more: ngfs.net/en/communique-
Read more: ngfs.net/en/communique-
Welcome to the ! This is an important step for our work as now all the world’s systemically important banks are supervised by NGFS members.
The Network recently turned three – I am proud to see how we have grown to become a truly global endeavour.
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Today, the @NGFS_ announced that the US Federal Reserve, together with seven other new members, have joined the Network. A warm welcome to all of them!
The NGFS now consists of 83 members and 13 observers.
Press release: ngfs.net/en/communique-
Press release: ngfs.net/en/communique-
(THREAD) Thank you , and others at for the interesting panel discussion on financing the net zero transition. It was an honour to present the NGFS Glasgow declaration and to announce that the now has 100 members
#TimeToActNow
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Today was the Central Banking Awards virtual ceremony. Thank you for acknowledging the work of the with the first Green initiative award. This truly encourages us to continue our journey.
You can watch full awards ceremony here: centralbanking.com/awards/7696686
It was a real pleasure to meet students and talk about sustainability, climate change and the urgent need for greening the financial system at the event, held by the .
Many thanks for all the interesting questions and the great discussion!
It was a great honour to chair the from its infancy to the established network that it has become.
Congratulations Ravi and Sabine! Together you will lead the continuing effort to green the financial system, a task as urgent and vitally important as ever.
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The NGFS announced that Ravi Menon has been named the new Chair of the Network and Sabine Mauderer has been named Vice-Chair. Ravi Menon succeeds Frank Elderson who served as Chair since the establishment of the NGFS.
@MAS_sg @bundesbank @ecb
Read: ngfs.net/en/communique-
Read: ngfs.net/en/communique-
Central banks and supervisors must consider the impact biodiversity loss and the degradation of nature are having on the financial system. To get a clearer picture, the has started assessing loan data.
More in my latest post on #TheECBblog ecb.europa.eu/press/blog/dat
Biodiversity and nature-related services, like pollination and clean water, are important for the economy. It’s not about flower power or tree hugging, but price stability, financial stability and sound banks.
Read my interview with ecb.europa.eu/press/inter/da
🧵The 's initial climate-related statistical indicators are an important first step towards narrowing the climate data gap ecb.europa.eu/press/pr/date/
They cover:
1⃣ sustainable finance
2⃣ carbon emissions financed by financial institutions
3⃣ climate-related physical risks
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Great insights in the ’s Financial Stability Review of where the financial system stands in incorporating climate risks. Some progress has been made, but we’ve still a long way to go. Below are some key points – you can read more here ecb.europa.eu/pub/financial- 1/4
Not just climate change but also the loss of biodiversity is a source of financial risks. We urgently need to better understand the materiality of these risks for the financial sector. With their study and @INSPIRE_Sec contribute to the solution #forNature
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On #BiodiversityDay, we proudly recall that the NGFS has recently launched a research project on 'Biodiversity and Financial Stability' together with @INSPIRE_Sec and announce that a first vision paper will be released shortly!
Know more: ngfs.net/en/communique-
Know more: ngfs.net/en/communique-
Climate risk – transition and physical – can reduce GDP growth and fiscal buffers. Interesting analysis by my colleagues on what climate change means for sovereign risk.
Read the special feature in our Financial Stability Review
European banking supervision is a project dear to my heart and I’m grateful to be nominated for this role. I look forward to the upcoming exchange with the members of ECON !
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The ECB nominates Executive Board member @FrankElderson as Vice-Chair of the Supervisory Board. Full press release bankingsupervision.europa.eu/press/pr/date/
What an eventful three days at the #ECBForum in beautiful Sintra, Portugal!
Thanks to all for the interesting discussions, and to colleagues for organising such a thought-provoking event.
ICYMI, watch the sessions here ecb.europa.eu/pub/conference
I am proud that we are taking further action in the fight against climate change. Our increased analysis and consideration of climate-related risks will help us to continue to deliver on our price stability mandate going forward.
See our plan here ecb.europa.eu/ecb/climate/ht
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Replying to @ecb
ECB presents action plan to include climate change considerations in its monetary policy strategy. Full press release ecb.europa.eu/press/pr/date/
My deepest sympathies go out to the people of Ukraine in these horrible times. One way to help them is via the ’s Ukraine Humanitarian Fund, which the , and other Eurosystem central banks also support 🇺🇦
Find out how you can donate
I’m delighted to welcome Croatia to the euro area!
With Croatia adopting Europe’s single currency, there are now 20 euro area countries. It’s great to watch the euro family grow.
Climate change carries important risks for central banks in the pursuit of our mandates.
This new report provides concrete proposals on how central banks can address climate risks in the design of their frameworks for monetary policy implementation.
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Today, the @NGFS_ published the report “Adapting central bank operations to a hotter world: Reviewing some options”.
It assesses 9 options available to central banks to factor climate-related risks into their operational framework.
Read more: ngfs.net/en/communique-
Read more: ngfs.net/en/communique-
Biodiversity loss poses an existential threat. This vision paper by and @INSPIRE_sec explores its potential implications for financial stability. We must learn more about how central banks and supervisors can address the related financial risks ngfs.net/en/communique-
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Today, the joint Study Group on "Biodiversity and Financial Stability" - recently launched by the NGFS and @INSPIRE_sec - published a first Vision Paper
Read more: ngfs.net/en/communique-
@MJ_GreenFinance @NVJRobins1 @FrankElderson
Read more: ngfs.net/en/communique-
@MJ_GreenFinance @NVJRobins1 @FrankElderson
I would like to thank for supporting my appointment as the ’s Supervisory Board Vice-Chair.
Looking forward to the final step in the process – confirmation by the .
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Plenary approves nomination of @FrankElderson as Vice-Chair of the @ecb Supervisory Board - 572 in favour, 71 against, 50 abstentions.
I enjoyed the rich discussion at ECON earlier today on my nomination as the ’s Supervisory Board Vice-Chair. Thanks to all members of the ’s Economic and Monetary Affairs Committee for their questions and comments.
Biodiversity loss also poses critical risks to our economic and financial systems.
A must-read by the and on the financial risks stemming from biodiversity loss and on what central banks and supervisors could do to tackle them ⬇️
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Today financial authorities have forged a consensus on biodiversity loss 
New report from @NGFS_ & @INSPIREgreenfin Study Group on #Biodiversity & #FinancialStability provides 
recommendations for central banks & supervisors.
Explore the report here: inspiregreenfinance.org/publications/c
New report from @NGFS_ & @INSPIREgreenfin Study Group on #Biodiversity & #FinancialStability provides recommendations for central banks & supervisors.
Explore the report here: inspiregreenfinance.org/publications/c
I would like to thank the Governing Council for its support. I look forward to the next steps in the process.
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The Governing Council has no objection to the proposed appointment of @FrankElderson as a member of the Executive Board. If appointed, Mr Elderson will succeed Yves Mersch. Next steps:
Opinion of the @Europarl_EN
Appointment by the European Council
ecb.europa.eu/press/pr/date/
Opinion of the @Europarl_EN
Appointment by the European Council
ecb.europa.eu/press/pr/date/
The only way to transition to a Paris-aligned economy is by taking action ⬇️
Today, the announced important steps to further incorporate climate change into our monetary policy operations ecb.europa.eu/press/pr/date/
#TimeToActNow
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We're taking further steps to incorporate climate change into our monetary policy operations.
We'll better account for climate change in our:
corporate bond purchases
collateral framework
disclosure requirements
risk management
Press release ecb.europa.eu/press/pr/date/
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Eager to attend in Glasgow, where key actors will work towards agreeing on further actions to tackle the climate crisis. Particularly looking forward to the financial sector’s contribution to address this vital global challenge
#TimeToActNow #COP26
I just wrapped up my first #AskECB, answering your questions on inflation, interest rate hikes, fragmentation, the digital euro & crypto, climate change and banking supervision.
Take a look at all of the videos on our Instagram instagram.com/europeancentra
These two reports offer banks and supervisors important insights into identifying, understanding and measuring climate-related risks.
Great work by the ’s Task Force on Climate-related Financial Risks that I proudly co-chair with the ’s Kevin Stiroh!
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How does climate change affect banks? How can banks and supervisors take into account the risks deriving from climate change? The #BaselCommittee analyses these issues in two new in-depth reports #climaterisks #climatechange #banking bis.org/press/p210414.
Even virtually, it's always a great pleasure to meet with the now 89 members and 13 observers of the and feel the vibrant energy of our network in today’s Annual Plenary Meeting.
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Today, the @NGFS_ held its Annual Plenary meeting, gathering its 89 members & 13 observers. Fascinating and insightful discussions on ongoing works and more forward-looking topics.
2021 will definitely be another thrilling year for the NGFS. More publications soon: stay tuned!
2021 will definitely be another thrilling year for the NGFS. More publications soon: stay tuned!
I see three gaps in the financial system that are holding back the green transition.
In my speech at the in Florence last week, I explained why we cannot ignore them in our work to deliver on price stability and safe banks.
Read the full speech ecb.europa.eu/press/key/date
Failing to take into account climate, environmental and ecological factors would be failing to deliver on our mandate. If we destroy nature, we destroy the economy, which is why threats to nature ultimately have a material impact on the banking system bankingsupervision.europa.eu/press/speeches
It was a pleasure to welcome to our offices today. Thank you, Mairead, for the visit and our interesting conversation about sustainable finance and more!
🧵Our climate stress test⬇️is a key milestone as we make our financial system more resilient to climate risk.
Despite the progress already made, banks must take decisive action and develop robust climate stress-testing frameworks.
See the press release bankingsupervision.europa.eu/press/pr/date/
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We are committed to guiding European banks through the green transition. Today we have published the results of our first ever supervisory climate risk stress test bankingsupervision.europa.eu/press/pr/date/
Watch the video message from Supervisory Board Vice-Chair Frank Elderson 
Good quality data is essential to properly assess climate risks. The report lays the groundwork for understanding what data is needed and identifies ways to further bridge gaps. It will help banks and supervisors to tackle climate change ngfs.net/sites/default/
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Today, the @NGFS_ released a "Progress report on bridging data gaps".
It forms part of the first phase of the work programme of the Workstream on Bridging the Data Gaps, launched by the NGFS one year ago.
Read more: ngfs.net/en/communique-
Read more: ngfs.net/en/communique-
Are banks well prepared to manage climate-related risk? This is what we will assess with the 2022 climate risk stress test. Read more ⬇️
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Today we launch a climate risk stress test to identify best practices, vulnerabilities and challenges banks face in this area. It is a learning exercise for banks and supervisors alike. We will publish aggregate results in July 2022 bankingsupervision.europa.eu/press/pr/date/
Banks are making necessary progress in addressing climate and environmental risks. However, it should be noted that their environmental risk management capabilities are still insufficient.
I spoke about this and more at the Foreign Bankers’ Association bankingsupervision.europa.eu/press/speeches
🧵Similar to central banks and supervisors, EU legal institutions need to be aware that they have a collective role and responsibility to respond to climate change within their mandates.
This is a key message of my speech at the Legal Conference⬇️
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Finance Day at is coming to an end. Today’s discussions have been very encouraging.
One of the highlights was the publication of the Glasgow declaration and pledges by NGFS Members. Read the declaration here ngfs.net/sites/default/
#TimeToActNow #COP26
To deliver on price stability and keep the banking system safe, we must pay attention to gaps in the financial system that are curtailing the green transition. We are committed to aligning ourselves with a Paris-compatible transition path ecb.europa.eu/press/key/date
Climate disclosures are key to more informed decision-making and better climate risk management. We need to make the most of the information we have, improve our disclosures and drive the green transition forward.
I spoke about this in #TheECBPodcast pod.link/ecbpodcast/epi
Happy #InternationalWomensDay! Together with colleagues, I struck the #choosetochallenge pose. From challenge comes positive change and I believe strongly that we all have a lot to gain from further strengthening women’s voices and unlocking female talent #IWD2021
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Today we celebrate #InternationalWomensDay! This year’s theme is #choosetochallenge, because a challenged world is an alert world. With this pose, we acknowledge our responsibility as individuals to call out gender bias and inequality and help forge an inclusive future #IWD2021
Sinds December ben ik directielid bij de . Een van de zaken waarmee ik me bezighoud, ook vanuit juridische optiek, is klimaatverandering en wat de rol van de ECB in de aanpak daarvan kan zijn. Ik heb er een opiniestuk over geschreven
Do you know why climate change matters for the and what we are doing about it?
Check out our Kahoot! quiz to learn about how climate risks affect price stability and how we keep banks safe ecb.europa.eu/ecb/educationa
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The NGFS turns 4 today! 
Some of last year’s milestones are the publication of the NGFS Glasgow Declaration and the achievement of reaching 100 members.
The NGFS will continue to expand its efforts to help green the financial system. Looking forward to next year!
Some of last year’s milestones are the publication of the NGFS Glasgow Declaration and the achievement of reaching 100 members.
The NGFS will continue to expand its efforts to help green the financial system. Looking forward to next year!
(THREAD) Although finance alone cannot make the world green, greening the world without it is impossible.
Forests and finance are more intricately intertwined than ever, only together they can thrive
#TimeToActNow #COP26
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I wish you all happy holidays, and a merry Christmas to those who celebrate it.
During the festive period, let’s especially think about those affected by hardship in a year that has been extremely challenging for many around the world.
We are now at a crucial point in terms of addressing climate change. Urgent action is imperative in order to meet the EU’s goal of becoming carbon neutral by 2050. Banking Supervision is an important part of that puzzle 1/4
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Climate change creates material risks for banks. As supervisor, it is our job to ensure banks address these risks adequately and proactively, Supervisory Board Vice-Chair @FrankElderson explains at a conference held by @EBRD and @HNB_HR. Read more bankingsupervision.europa.eu/press/speeches
Today we commemorate the millions of women, men and children who were killed in the Holocaust.
We paid tribute in the Großmarkthalle, a former deportation site which is now part of the premises in Frankfurt and a daily reminder of this dark period in history.
Het was een genoegen te mogen ontvangen hier bij de . We hebben onder andere gesproken over klimaatverandering en onze rol bij het tegengaan van klimaatgerelateerde financiële risico’s.
Bekijk het interview vanavond om 21:30 op NPO 2 of via npostart.nl/live/npo-2
Very much looking forward to my first #AskECB on Instagram next week! Head over to our Instagram and send your question instagram.com/reel/CevbezXjH
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Do you have questions on inflation, climate change, the euro or any other topics? Head over to our Instagram and send us your question. Next week, Executive Board member @FrankElderson will answer some of your questions there! instagram.com/reel/CevbezXjH
Join me in turning off the lights for #EarthHour at 20:30 CET today! By supporting this global movement, we’ll raise awareness about the importance of climate action.
Want to know what the is doing to tackle climate change? Read our climate web page ecb.europa.eu/ecb/climate/ht
These climate-related financial disclosures show the progress we’ve made so far in decarbonising our portfolios and the way we still have to go.
They’ll become a powerful tool for monitoring progress towards our overall climate objectives ⬇️
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We’ve published our first climate-related financial disclosures.
They provide information on the carbon footprint of euro area central banks’ corporate sector holdings and our own investment portfolios.
Press release ecb.europa.eu/press/pr/date/
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🧵The turns 5!
2017🍃We started the Network for Greening the Financial System with just 8 central banks and supervisors to develop climate and environmental risk management and more in the financial sector.
With 121 members, we’ve come a long way!
#ProudToBeNGFS
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The #NGFS turns 5 today!
In 5 years, the Network has grown to now 140 members and observers.
Congratulations to all of them for this fantastic journey and the numerous achievements!
More info about us: ngfs.net/en
#ProudToBeNGFS
More info about us: ngfs.net/en
#ProudToBeNGFS
The marks its fourth anniversary by publishing a guide on climate-related disclosure for central banks.
This reaffirms the commitment to action made in our Glasgow Declaration, and our unwavering determination to address financial risks emerging from the climate crisis⬇️
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Today, the NGFS published a "Guide on climate-related disclosure for central banks".
The document highlights the steps central banks could take to prepare their own climate-related disclosures.
Read more: ngfs.net/en/communique-
Read more: ngfs.net/en/communique-
It was a pleasure to speak to Dutch youth organisations with . Thank you and for hosting this event!
The results of our first climate stress test show that climate risks have a big impact on euro area central bank balance sheets.
These tests, which are part of our climate action plan, will improve our methodology and help us cover a wider range of financial exposures ⬇️
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In 2022 we conducted the first climate risk stress test of euro area central bank balance sheets to analyse how sensitive our financial risk profile can be to climate-related risk scenarios and improve our risk assessment capabilities ecb.europa.eu/pub/economic-b #EconomicBulletin
(THREAD) Following the Glasgow declaration, we now present our pledge on climate action. All of us in the financial sector need to take climate risks into account in our work.
These are five areas of action:⬇️
#TimeToActNow #COP26
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We pledge to contribute towards the Paris Agreement goals within our mandate. On the occasion of @COP26, we have set out five areas of decisive action to address climate change. We are committed to achieving them.
Read the full ECB pledge here ecb.europa.eu/pub/pdf/other/
#COP26
While our own climate actions are no substitute for decisive government action, within our mandate we have a duty to play our part, and we will do so.
Find out what we are doing about climate change in monetary policy and banking supervision in our blog ⬇️
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We are reducing our portfolio’s carbon footprint and pushing banks to manage climate and environmental risks, write @Isabel_Schnabel and @FrankElderson.
Within our mandate, we are incorporating climate change into our monetary policy & banking supervision ecb.europa.eu/press/blog/htm
I very much enjoyed my first Twitter Q&A . Thanks for all the questions. In case you missed it, here’s a summary of all the questions and answers.
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Missed our live Twitter Q&A with ECB Executive Board member @FrankElderson? Catch up here! #AskECB twitter.com/i/moments/1371Heb een goed gesprek gehad met Pieter Jan Hagens van over de laatste besluiten van de en de energiecrisis.
Mocht je het gemist hebben, je kunt de uitzending hier terugkijken npostart.nl/frank-elderson
I joined colleagues for a walk in the garden, home to numerous species of insects, animals, plants and trees.
Biodiversity affects us all – we need to protect nature and raise awareness about the risks it is facing, and the risks to the financial sector as a consequence.
Ready to kick off discussions in Sintra, Portugal at the #ECBForum on Central Banking!
I’m excited to meet and talk with central bankers, analysts, academics and other participants in person ecb.europa.eu/pub/conference
I’m very excited to answer your questions during my first Twitter Q&A next week! Ask your questions using #AskECB.
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What would you like to ask Executive Board member @FrankElderson? Post your question using #AskECB and follow his answers live on Tuesday, 16 March!
It was a pleasure speaking with for at about the financial system’s role in tackling climate change. We discussed the Glasgow declaration, the climate roadmap and more.
Watch the interview bloomberg.com/news/videos/20
#TimeToActNow #COP26
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(THREAD) We need banks to incorporate climate risks into their DNA. For a bank, this is not a fringe activity, this is core. This is what our supervisory expectations are about, Executive Board member @FrankElderson tells @flacqua in a @BloombergTV interview at @COP26
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Another crucial step towards making climate and environmental risk assessments easier!
To make companies’ climate-related data available quickly and efficiently, we are working on an open-access, web-based tool together with , and ⬇️
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Presenting Project Gaia – A platform to facilitate the work of climate risk analysts by increasing usability of publicly available corporate reports while reducing the manual effort during the search
#BISInnovationHub #Greenfinance
bit.ly/3mKmN7i
It was a great pleasure to give a lecture today at Utrecht University. I talked about the challenges arising from the climate and environmental crises, while outlining what we’re doing at the to address them.
Thanks to for the opportunity!
🧵In today's #Eurofi panel on sustainable finance, I discuss the welcome proposals for the Capital Requirements Directive and Corporate Sustainability Reporting Directive put forward by the .
Read my introductory remarks bankingsupervision.europa.eu/press/speeches
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How can we tackle #biodiversityloss related financial risks?
3 Key elements from our webinar with today:
1 Cross-pollination in expertise
2 A clear transition path
3 Leverage
Many thanks to copanelists & Danijela Piljic for your valuable insights!
The climate crisis poses significant risks to the financial system, which is why the is taking action.
Find out more about the ECB’s climate response on our updated webpage ecb.europa.eu/ecb/climate/ht
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What are we doing to account for the impact of climate change and the green transition on our economy?
Go to our updated climate change webpage to learn all about our climate agenda, climate-related risks and more ecb.europa.eu/ecb/climate/ht
We need harmonised data to properly assess and manage climate-related risks.
We join , and in supporting targeted disclosures for structured finance products to help address climate change ecb.europa.eu/pub/pdf/other/
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We are working with the European Supervisory Authorities to enhance disclosure standards for securitised assets with additional climate data requirements. Within our mandate, we are committed to shaping a more sustainable financial sector.
Joint statement ecb.europa.eu/pub/pdf/other/
Our commitment to do our part in the fight against climate change is steadfast. Today’s decision on stronger tilting of our corporate bond holdings towards firms with a better climate performance supports the decarbonisation of our portfolio in line with the Paris agreement.
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Today we took these monetary policy decisions:
We raised interest rates again, by 0.5 percentage points
We will start to reduce the large amounts of bonds we bought over the last few years
We will make our holdings of corporate bonds greener
ecb.europa.eu/press/presscon
We raised interest rates again, by 0.5 percentage points
We will start to reduce the large amounts of bonds we bought over the last few years
We will make our holdings of corporate bonds greener
ecb.europa.eu/press/presscon
Bedankt voor ons interessante gesprek over onder andere klimaatverandering en hoe dit binnen het ECB-mandaat valt.
Lees hier enkele belangrijke punten uit het interview ⬇️
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🧵 The terrible war in Ukraine is a reminder of the EU’s dependence on fossil fuels from Russia. The likelihood of the energy transition taking place has increased. Europe has understood: there is no way back.
This is one of my key messages at the 2022 European Summit⬇️
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Looking forward to participate in the Green Swan Conference in June, yet an another important step by the , , and in promoting finance to address climate change!
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@BIS_org, @banquedefrance, @IMFNews and NGFS proudly announce the #GreenSwanConference – Coordinating Finance on Climate.
It will bring together key actors from all areas of the financial sector to urgently tackle climate risks.
More info: bis.org/events/green_s
Looking forward to my first event at the World Leader’s Summit Event “The Action on Forests and Land Use”. I will talk about the need for economy-wide shifts to tackle the structural drivers of deforestation.
Live from 10:15 CET unfccc-cop26.streamworld.de/webcast/presid
#TimeToActNow
Russia’s war in Ukraine is unjust, illegal and horrifying. It is a painful and crucial reminder to all of us that we can never take peace for granted.
My thoughts are with the victims, their families and friends, and all those affected by the violence. #StandWithUkraine 🇺🇦
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Today, the NGFS published a Progress report on the implementation of the recommendations of its Guide for Supervisors - released in May 2020.
Read more: ngfs.net/en/communique-
The report is part of the NGFS’ contribution to #COP26. More coming soon!
Read more: ngfs.net/en/communique-
The report is part of the NGFS’ contribution to #COP26. More coming soon!
This is an excellent service for everyone who needs to access Union legal acts on banking supervision. We’ve published a digital compilation to make them available quickly and easily in a single place. It also underlines our commitment to transparency
No one should feel they have to hide their identity when they go to work. Diversity and tolerance are core European values. And at the , we stand for equality, inclusivity and respect for all, no matter who you are, whom you love or how you identify.
Happy #IDAHOBIT2023! 🏳️🌈
It was a pleasure to welcome students from to the earlier today.
We had a really interesting discussion about the current economic landscape, the future of banking and the climate and environmental crises.
These new scenarios by are a useful guide to climate risks that may materialise in the future. They offer a common and consistent global framework for private and public stakeholders for their forward-looking climate-risk analyses. More here ngfs.net/en/communique-
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Today, the NGFS published the 2nd vintage of the NGFS Climate Scenarios and a new dedicated website. 
Read more: ngfs.net/en/communique-
@bankofengland @banquedefrance @PIK_Climate @CA_Latest @UofMaryland @ETH_en @NiGEMmodel @IIASAVienna
Read more: ngfs.net/en/communique-
@bankofengland @banquedefrance @PIK_Climate @CA_Latest @UofMaryland @ETH_en @NiGEMmodel @IIASAVienna
A warm welcome to the Bank of Canada, Bank Negara Malaysia and the Financial Services Agency of Japan to the NGFS Steering Committee. With these three new members we will secure a more balanced and diverse global perspective.
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Today, the @NGFS_ announced the expansion of its Steering Committee to include 3 new members: Bank of Canada, Bank Negara Malaysia and the Financial Services Agency of Japan. Congratulations! @bankofcanada @BNM_official @fsa_JAPAN
Press release: ngfs.net/en/communique-
Press release: ngfs.net/en/communique-
For the first time the Annual Report includes a dedicated section on all our activities related to sustainability. It is essential for central banks and supervisors to report on their actions concerning financial risks from the climate and environmental crises.
Read more ⬇
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Our 2021 Annual Report is now available in 22 languages
@EP_Economics
ecb.europa.eu/pub/annual/htm
🧵 The Basel Committee follows a holistic regulatory, supervisory and disclosure-related approach to addressing climate-related financial risks.
Proud to see the principles on climate-related financial risks published today as part of its work on supervision.
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Coming up at 11:15 CET: Looking forward to the panel discussions at the Presidency Event “A Financial System for Net Zero” where I will present the Glasgow Declaration: Committed to Action.
Thanks for hosting!
Follow live unfccc-cop26.streamworld.de/webcast/presid
#TimeToActNow
Banks need transition plans compatible with EU policies implementing the Paris Agreement that help them successfully steer their business through the transition to a greener economy. I call on legislators to make such plans a legally binding requirement bankingsupervision.europa.eu/press/speeches
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Europe’s pledge to become carbon neutral by 2050 will change its economies, says Supervisory Board Vice-Chair Frank Elderson. Banks must develop plans with clear milestones in line with EU climate policies that help them successfully manage the transition bankingsupervision.europa.eu/press/speeches
The EU’s Emissions Trading System is key in fighting climate change. Luckily there’s a way to do this that does not reduce competitiveness in Europe while increasing emissions elsewhere. Keeping companies both green and competitive is crucial.
Interesting read in #TheECBblog ⬇️
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#TheECBblog examines how the EU can use emissions trading to strike a balance between sustainability goals and competitiveness ecb.europa.eu/press/blog/dat
We've published our third assessment of the progress European banks have made on disclosing climate and environmental risks.
As banking supervisors, we'll take appropriate supervisory action if necessary to ensure banks comply with stricter disclosure standards ⬇️
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European banks have made progress on disclosing climate risks. However, they urgently need to improve the quality of those disclosures, as tighter EU rules will take effect this year. Non-compliance will trigger supervisory action.
Press release bankingsupervision.europa.eu/press/pr/date/
Having diversity on banks' boards is crucial, not only for me as a supervisor, but also for us all as customers. Diversity helps ensure better decision-making.
and I discussed the importance of good and diverse leadership in #TheECBPodcast pod.link/ecbpodcast/epi
Governments and companies are increasingly being taken to court because of climate inaction. We must understand such climate-related litigation risks for banking supervision and monitoring financial stability.
Full note on litigation risks⬇️
#TimeToActNow #COP26
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Today, the NGFS published the report "Climate-related litigation: Raising awareness about a growing source of risk".
Read: ngfs.net/sites/default/
#COP26
Read: ngfs.net/sites/default/
#COP26