The contribution of central banks to social capital can be expressed through words like trust, stability, predictability, confidence and credibility. Citizens value the commitment of central banks to these values, as they constitute a key element of the implicit social contract between society and central banks. The functioning of the economy, and particularly that of the financial system, relies on trust and confidence and central banks have a unique role in this.
 Social risks can be credit risks By Andrew Steel Over the past few years there has been an expansion in the social factors considered by investors and other stakeholders. Topics such as health and safety, diversity, workers’ rights and human rights have become more central to sustainability strategies.Â
 MEETINGS International standards for sustainable finance Thursday 15 September, Conference OMFIF hosts a conference in Frankfurt examining how the European Union can strengthen its sustainable finance competitive process. The conference brings together representatives from both the public and private sector.Â
 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.Â
 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 stage.
