Matolcsy: Central banks should be included to win the climate war

Mark Carney is absolutely right that we need to rewire our entire economies to mobilize 100 trillion dollars to win the war against climate change /FT, 30 October 2021/.

It is most likely that the total amount of external finance needed for the sustainable energy drive over the next decades will be much bigger.

All in all, we need all central banks to step in the ring. Central banks will create money, they will launch targeted QEs for buying “green” assets and central banks/regulators can restructure the decisions of the banking sector in the direction of green transition.

Anyway, central banks were established to finance wars and/or help economies getting out of the ruins of wars and crisis.

Governor Matolcsy, MNB, the Central Bank of Hungary

Re “The world of finance will be judged on the 100tn dollars climate challenge”