Central banks criticised by green activists

Sound ideas: A man walks past the headquarters of the People’s Bank of China in Beijing. - filepic

WASHINGTON: Climate activists are warning that central banks are taking a “risky gamble” with their strategies for addressing the financial risks from global warming.

The scenarios being used to guide the transition to a carbon-neutral economy are biased toward temperatures that are too high and fossil-fuel phase-outs that are too slow, according to a study by Oil Change International and Reclaim Finance.