Dominé par l’opposition de droite, le sénat français a adopté hier mardi trois amendements qui tendent à fortement restreindre le port du voile et du burkini. Ces nouvelles mesures approuvées par le sénat rentrent dans le cadre du projet de loi sur le “séparatisme” qui vise l’islam radical. C’est au terme d’un débat houleux que […]
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Reaching net-zero greenhouse gas emissions is a critical goal of climate policy. Across the world, growing numbers of governments are introducing targets and plans to achieve net-zero around the middle of this century. Alongside this, leading banks and investors are committing to align their portfolios with net-zero by 2050. As guardians of the financial system, central banks and supervisors also need to introduce explicit strategies to support the transition to net-zero as the next stage in confronting the risks of climate change. This report is a first attempt to examine the role that central banks and financial supervisors could play in supporting the transition to net-zero.
Reaching net-zero greenhouse gas emissions is a critical goal of climate policy. Across the world, growing numbers of governments are introducing targets and plans to achieve net-zero around the middle of this century. Alongside this, leading banks and investors are committing to align their portfolios with net-zero by 2050. As guardians of the financial system, central banks and supervisors also need to introduce explicit strategies to support the transition to net-zero as the next stage in confronting the risks of climate change. This report is a first attempt to examine the role that central banks and financial supervisors could play in supporting the transition to net-zero.
Reaching net-zero greenhouse gas emissions is a critical goal of climate policy. Across the world, growing numbers of governments are introducing targets and plans to achieve net-zero around the middle of this century. Alongside this, leading banks and investors are committing to align their portfolios with net-zero by 2050. As guardians of the financial system, central banks and supervisors also need to introduce explicit strategies to support the transition to net-zero as the next stage in confronting the risks of climate change. This report is a first attempt to examine the role that central banks and financial supervisors could play in supporting the transition to net-zero.
This article investigates and empirically tests the link between climate change and sovereign risk in Southeast Asia. Southeast Asian countries are among those most heavily affected by climate change. The number and intensity of extreme weather events in the region have been increasing markedly, causing severe social and economic damage. Southeast Asian economies are also exposed to gradual effects of global warming as well as transition risks stemming from policies aimed at mitigating climate change. To empirically examine the effect of climate change on the sovereign risk of Southeast Asian countries, we employ indices for vulnerability and resilience to climate change and estimate country-specific OLS models for six countries and a fixed effects panel using monthly data for the period 2002–2018. Both the country-specific and the panel results show that greater climate vulnerability appears to have a sizable positive effect on sovereign bond yields, while greater resilience to climate change has an offsetting effect, albeit to a lesser extent. A higher cost of debt holds back much-needed investment in public infrastructure and climate adaptation, increases the risk of debt sustainability problems, and diminishes the development prospects of Southeast Asian countries.