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Business & Finance

BOJ Kuroda urges central banks to take 'forward-looking' steps on climate risks

  • Naturally, setting a course toward reducing greenhouse gas missions is primarily the responsibility of governments.
  • Meanwhile, climate change is having a significant effect on central banks' policy management.
Published March 25, 2021
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TOKYO: Bank of Japan Governor Haruhiko Kuroda on Thursday called on central banks to take "forward-looking steps" on managing climate change risks and make steady progress in overcoming associated challenges.

"Naturally, setting a course toward reducing greenhouse gas missions is primarily the responsibility of governments," Kuroda said in a BOJ-hosted online international workshop on climate related financial risks.

"Meanwhile, climate change is having a significant effect on central banks' policy management. Given its powerful influence over economic activity and the financial system in the medium to long term, central banks must take necessary measures against the impact of climate change," he said.

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