Despite a lacklustre record on climate regulation, the US has recently achieved major milestones in pursuit of the net zero transition. In what has proved to be President Joe Biden’s biggest legislative victory to date, the Inflation Reduction Act allocates $369bn for spending on climate and clean energy. Much work remains to be done in the US though. Regulatory efforts may face major judicial hurdles. In the case of a Republican party victory in the November midterms, sustainability initiatives and relations with China could both become more fraught.
Central banks play important role in building social capital By Pedro Duarte Neves The contribution of central banks to social capital can be expressed through words like stability, predictability and credibility. The functioning of the economy and financial system relies on trust and confidence and central banks have a unique role in this.
MEETINGS Development of taxonomies in Latin America: Colombia leading the way Wednesday 24 August, Roundtable Colombia is the first country in Latin America to launch its own green taxonomy. This roundtable explores the pillars of Colombia’s taxonomy and discusses whether it will become a model for others in the region.
Digitalisation of public finance management Tuesday 27 September, Report launch The management of public finances is beset by problems of inefficiency and a lack of transparency. OMFIF, in partnership with EY, launches a report to study the degree to which digital improvements could improve operational efficiency and oversight.
ON DEMAND ECB and climate risk supervision Christoffer Kok, head of the stress test modelling division of the European Central Bank’s directorate general for macroprudential policy and financial stability, joins OMFIF to discuss the results of the bank’s supervisory climate risk stress test, approaches taken and lessons learnt.
LATEST REPORT Sustainable Policy Institute Journal In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stag
