LONDON, April 24 (Reuters) - France's central bank
governor François Villeroy de Galhau has pushed back against
recent criticism of central banks' increasing involvement in the
fight against climate change, calling it a "must have" focus.
"Climate-related risks are clearly among the long-term risks
to which financial institutions are exposed: monitoring these
risks is not a 'nice to have', or part of a CSR policy, but a
'must have'," Villeroy, who also sits on the European Central
Bank's Governing Council, said in a speech at the City Week
conference in London.
On some of the recent push back against central banks'
increased role, he added central bankers shouldn't waste too
much time on the legal and political debate about central bank
mandates.
"Central banks' core mandate worldwide is price stability,
and climate change already affects the level of prices and
activity."
"It's not mission creep, it's not a politicisation of our
mandate - it is our core business and core duty."
(Reporting by Marc Jones; Editing by Hugh Lawson)
Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter
@marcjonesrtrs))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.