On 12 March 2024, 11:00 AM - 12:00 PM CET, via Zoom, the SAFE Policy Center and the Centre for Economic Policy Research (CEPR) Research and Policy Network on European Financial Architecture organised a web seminar on

Presentation of the ECB/ESRB Climate Report


with Stephan Fahr, Paul Hiebert, Laura Parisi and Fabio Tamburrinim (all ECB) 

Moderator of the Q&A: Loriana Pelizzon (SAFE, Goethe University, and CEPR)

There are many indicators that can measure threats that climate change poses to financial stability. The macroprudential challenge is to corral these indicators into a coherent surveillance framework for managing risk. A recently published ECB/ESRB report harnesses a growing body of evidence on indicators into three primary categories: climate shocks, exposures to these shocks, and financial risks resulting from the interaction of exposure and prevailing vulnerabilities. Existing evidence can be used to tailor a macroprudential approach to addressing climate risks – that is, a strategy to contain risk for banks and for the broader financial system. The report also contains a first look at prospective financial stability impacts stemming from nature degradation, which could serve to exacerbate the financial stability impacts of climate change

The policy web seminar is a part of the SAFE-CEPR joint seminar series aiming at fostering debates on policy-relevant issues.