James Talbot, Executive Director for International at the Bank of England and Chair of the NGFS workstream on monetary policy, sets out how the Bank is embedding climate impacts across its monetary, supervisory and financial stability work. As climate and transition shocks increasingly shape the macroeconomic outlook and financial risks, the Bank is integrating climate into business as usual modelling and risk monitoring. James also highlights recent advances in risk assessment and scenario analysis, emphasising that understanding climate driven shocks is essential to maintaining price and financial stability.
James Talbot
Executive Director, International
Speech
Introduction
It is a great pleasure to be here this evening at this LSE event Chaired by Lord Stern. It is nearly twenty years since the Stern review, which showed that climate change could, among other things, have a serious impact on GDP in the long run.
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