Central Bank to establish climate change unit

Regulator’s new unit will manage climate-related risks to the financial system

2nd December, 2020
Central Bank to establish climate change unit
Factories, cranes, chimneys and other signs of industry in Dublin Bay shrouded in haze. The Environmental Protection Agency has said it is not optimistic about Ireland’s performance on climate change unless policy efforts are accelerated. Photograph: Sam Boal/RollingNews.ie

The Central Bank is to establish a dedicated climate change unit, the Business Post has learned.

The financial regulator’s new climate change unit is expected to be operational in the new year and will manage climate related risks to the financial system.

The Central Bank told the Business Post that its mandate was to serve the public interest by safeguarding monetary and financial stability and ensuring that the financial system operates in the...

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