CB launches sustainability agenda and recognises pressure for action
09/08/2020 Since 2 weeks
On September 8, the Central Bank launched the sustainability dimension in its CB# institutional agenda, seeking to gain prominence in actions related to the issue at a time when Brazil is being questioned by international investors in relation to environmental governance.
The agenda ranges from more immediate actions, such as the incorporation of climate risk scenarios in CB stress tests, to measures that will take time to be effectively implemented, such as regulatory requirements for financial institutions that should be valid from 2022 onwards.
The CB also stipulated the creation of a sustainable liquidity facility for financial institutions and, with regard to international reserves, the inclusion of sustainability criteria for the selection of counterparties in reserve management and investments.
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