Reserve Bank probing its role in mitigating climate change (BL)

The SA Reserve Bank, whose main job is to manage monetary policy, says it has begun work to understand how it can mitigate against climate change, despite this not being the usual work of the central bank. Governor Lesetja Kganyago says in the Bank’s annual report published on Monday that “climate change will have a profound effect on SA’s economy and financial sector”. The Bank, in collaboration with other financial regulators and the National Treasury, says it is working with the Intergovernmental Sustainable Finance Working Group as climate change will shape global investments, affect how economies function and how assets are priced and have implications for financial stability. Click here to read full article.