🌍 We can align the targets if CBs are prepared to manage risks, if climate policy is well-designed to minimise economic costs, and if policy decisions are clearly communicated to economic actors – expectations matter!

📌A stable macroeconomic environment and stable rates are a precondition for the successful implementation of climate policy. Greening quantitative easing and collateral framework, along with clear communication on climate strategy, can provide important signals about long-term value of green assets.

📌There is still substantial uncertainty about the macroeconomic impacts of the green transition. We must calibrate monetary policy to effectively manage trade-offs arising from climate policies to meet the price stability mandate without hindering the transition.

📌The economic impacts of climate change and climate policies are growing. Central Banks have recognised it and are building the infrastructure to monitor and address these risks.