Two phenomena are increasingly reshaping the world economy. One is the growing and well-documented importance of climate transition policies that differ across countries. The other is the stark rise of geoeconomic fragmentation (GEF) concerns. While differences in climate transition policies are...

Die Herausforderungen des fortschreitenden Klimawandels stellen die globale Landwirtschaft zukünftig vor große Herausforderungen und erfordern durchdachte Anpassungsstrategien. So zählt eine Anpassung des Wassermanagements zu einer der großen Aufgaben, die es zu bewältigen gilt. Änderungen...

Latin America and the Caribbean (LAC) is the most water-rich region in the world, but millions of its inhabitants live with water risk. This contradiction, driven by mismatches in the location of supply vs demand, quality issues, and failing infrastructure, makes it crucial that policy makers...

Climate change can be a source of financial risk. This paper examines how credit rating agencies accepted by the Eurosystem incorporate climate change risk in their credit ratings. It also analyses how rating agencies disclose their assessments of climate change risks to rating users. The paper...

Um die Erderwärmung auf möglichst 1,5 Grad zu begrenzen und eine Anpassung an die unvermeidlichen Folgen des Klimawandels zu ermöglichen, bedarf es tiefgreifender Transformationen auf wirtschaftlicher, gesellschaftlicher, kultureller, technologischer und institutioneller Ebene. Um die...

The debate on growth versus the environment is usually summarized as optimists believing in limitless growth versus pessimists seeing environmental and resource limits to growth. This opposition defines the main strategies: namely, striving for green growth versus some anti-growth approach. In...

Die Ressource Fläche ist weltweit begrenzt. Ein nachhaltiges Landmanagement ist, nicht nur vor dem Hintergrund des Klimawandels, erforderlich, um den verschiedenen Interessen an der Fläche gerecht zu werden. Bestehende Funktionen auf der Fläche, beispielsweise die Produktion von...

Climate change poses large economic costs to governments and societies. Reducing individuals' CO2 footprints is central in mitigating climate change. In a new paper, we show that providing information on combating climate change motivates individuals to take costly actions to offset CO2...

Climate change has profound effects not only for societies and economies, but also for central banks' ability to deliver price stability in the future. This paper starts by documenting why climate change matters for monetary policy: it impacts the economic variables relevant to setting the...

This paper analyses the implications of climate change for the conduct of monetary policy in the euro area. It first investigates macroeconomic and financial risks stemming from climate change and from policies aimed at climate mitigation and adaptation, as well as the regulatory and fiscal...