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Central banks should be fighting the climate crisis—here's why

Summary

The article discusses the role of central banks in addressing the climate crisis. Despite climate finance being a focal point in discussions, central banks remain largely absent from such conversations. The authors argue that central banks, as public institutions with significant power, can play a crucial role in catalyzing a more just, equitable, and climate-stable future. However, the research suggests that current central bank policies inadvertently slow down transformative climate action by prioritizing short-term financial stability. The authors propose a concept of "creative disruption," urging central banks to intentionally disrupt existing financial systems to redirect flows and create greater long-term stability, emphasizing the need for climate justice in financial decision-making.

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