Bridging the Gaps in Climate Policy

Bridging the Gaps in Climate Policy

Sarah Breeden

Executive Director: Bank of England

In this video, Sarah Breeden highlights the key aims of the Bank of England's Climate Biennial Exploratory Scenario exercise (CBES). She then explains the macroeconomic impacts of the shift to net zero and the implications of monetary policy.

In this video, Sarah Breeden highlights the key aims of the Bank of England's Climate Biennial Exploratory Scenario exercise (CBES). She then explains the macroeconomic impacts of the shift to net zero and the implications of monetary policy.

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Bridging the Gaps in Climate Policy

9 mins 56 secs

Overview

The Bank of England had launched the Bank’s Climate Biennial Exploratory Scenario exercise (CBES) in June 2019 to collaborate with the largest UK Banks and insurers to gain a better understanding of climate risks. This exercise which combined finance and climate outcomes and consisted of 3 scenarios: no action, late action and early action and understand how physical and transition risks combine.

Key learning objectives:

  • Understand the implications of monetary policy

  • Understand the key aims of the CBES

  • Understand policy levers and the macroeconomic impacts of shift to net zero

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Summary
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Expert
Sarah Breeden

Sarah Breeden

Sarah Breeden is the Executive Director for Financial Stability Strategy and Risk at the Bank of England. She is responsible for guarding the wider economy against damage from the financial system. Sarah has worked at the bank for 30 years, most recently as head of International Bank Supervision.

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