A Toolbox of Sustainable Crisis Response Measures for Central Banks and Supervisors

Central banks and financial supervisors have taken extraordinary measures to respond to the financial and economic crisis brought about by the COVID-19 pandemic and will continue to do so into the recovery phase. Building upon the first edition of the toolbox released in June, this edition expands the empirical assessment of the crisis response beyond the members of the NGFS, to include 188 economies.

While new climate initiatives have been launched by central banks this year, a key finding of this research reveals there is a divergence between crisis response measures and wider measure to align finance with the Paris Agreement and the Sustainable Development Goals. This toolbox provides a framework for how sustainable considerations may be integrated into both crisis response measures and general operations. It is produced by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science (LSE) and the Centre for Sustainable Finance at SOAS, University of London.