A política monetária dos Bancos Centrais decorrentes das crescentes mudanças climáticas: uma análise sobre as políticas econômicas sustentáveis

Abstract

Climate change brings new challenges to Central Banks and financial supervisors and regulators. Monetary policy can now also deal with climate mitigation. However, in order to do so, it is necessary a new analysis regarding the limitations that climate risks can pose to financial stability, which is the fundamental responsibility of these institutions. In this regard, this work aims to undertake a broad analysis of these variables, starting with a historical recapitulation of the main international events that dealt with sustainability. Afterwards, it analyzes the complexity involved in the new actions that Central Banks can perform towards a sustainable economic policy. Finally, this work aims to understand the uncertainties and risks by means of a scenario-based analysis, since Central Banks alone cannot mitigate climate change. This complex collective-action problematic demands the coordination of many stakeholders, including governments, private sector, civil society and communities.