Virtual Executive Panel: Transitioning to a Green Economy: Financial Stability Implications

Open Resource

Year Published

2021

Contributing Organizations

International Monetary Fund (IMF)

World Bank Group (WBG)

Global Affairs Canada (GAC)

Comic Relief

USAID

The Swedish International Development Cooperation Agency (Sida)

Jersey Overseas Aid (JOA)

Toronto Centre

Type of Resource

Webinar or Podcast

Languages

English

Relevant Topics

Core Topic

Climate & Transition Finance

Target Audience

Governments & Policymakers

MDBs/DFIs

Asset Owners

Asset Managers

Banks

Relevant Geography

Global

Asia & the Pacific

Open Resource

Resource Description

This transcript captures a virtual executive panel with Mark Carney and Sri Mulyani Indrawati, exploring policy and supervisory responses to climate risks. It highlights fiscal tools, market mechanisms, and capacity building to support a just and resilient transition.

Why This Matters

Climate change poses systemic risks to financial stability. This discussion illustrates how integrating climate into financial policy, supervision, and recovery planning can build resilience, especially in developing countries facing fiscal constraints and growing climate exposure.

Key Insights

Foregrounds Indonesia’s reforms including green budgeting, fuel subsidy removal, carbon pricing, and green bond issuance
Emphasizes the need for a “just transition” and role of fiscal tools in incentivizing subnational governments
Describes climate stress testing using NGFS scenarios to assess transition and physical risks
Estimates voluntary carbon markets could mobilize $50–100 billion annually
Highlights the value of capacity building, technology access, and global public goods

Secondary File Resources

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