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International Settlement

The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

Videos by International Settlement

Panel S | | Green Swan Conference 2021

Concluding panel

Central banks and climate change: how to manage expectations, balance actions and
communication and contribute to coordinate with other important actors?

Panellists: Agustín Carstens (BIS), Christine Lagarde (ECB), Yi Gang (People’s Bank of China), Jerome Powell (Federal Reserve Board of Governors), François Villeroy de Galhau (Banque de France; NGFS). Moderator: Gillian Tett (Financial Times)

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Panel P | Green Swan Conference 2021

How can central banks, supervisors and regulators help to mobilise and coordinate with other actors (Treasuries, private sector) in the fight against climate change?

Panellists: Lesetja Kganyago (SARB), HaruhikoKuroda (Bank of Japan), Ravi Menon (MAS), Eddie Yue (HKMA), Nor Shamsiah Yunus (Bank Negara Malaysia). Moderator: Haizhou Huang (CICC).

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Panel Q | Green Swan Conference 2021

How are new investments adapting to integrate biodiversity loss risks? How are the impacts of these investment measured?

Panellists: Claudia Kruse (APG Asset Management), Matthieu Maurin (Iceberg Data Lab), Alexandre Rambaud (AgroParisTech-CIRED), Olaf Sleijpen (DNB). Moderator: Irene Heemskerk (DNB; appointed ECB)

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Panel R | Green Swan Conference 2021

How can Development Banks address the massively increased financing needs for green projects? What kind of innovative solutions can be developed?

Panellists: Erik Berglof (AIIB), Ambroise Fayolle (EIB), Anshula Kant (World Bank), Xavier Musca (Crédit Agricole), Nandita Parshad (EBRD), Rémy Rioux (AFD). Moderator: Siddharth Tiwari (BIS)

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Special guest speech by Nicholas Stern | Green Swan Conference

Economic leadership for transformation in a critical decade: managing risks and fostering investment

Special guest speech by Nicholas Stern (IG Patel Professor of Economics and Government and Chair of the Grantham Research Institute on Climate Change and the Environment, London School of Economics) at the Green Swan Conference, 4 June 2021

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Special guest speech by Zhou Xiaochuan | Green Swan Conference

Special guest speech by Zhou Xiaochuan (President, China Society for Finance and Banking; Vice Chairman, Boao Forum for Asia; former Governor, People’s Bank of China)

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Panel M | Green Swan Conference 2021

What are the policies currently considered by central banks, regulators and supervisors – and their challenges – to address climate change?

Panellists: Pablo Hernández de Cos (Bank of Spain; BCBS Chair); Thomas Jordan (Swiss National Bank); Sabine Mauderer (Deutsche Bundesbank); Simone Robbers (Reserve Bank of New Zealand). Moderator: Morgan Després (Banque de France).

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Panel N | Green Swan Conference 2021

How can innovations in market-based approaches using consumer carbon tracing influence consumers’ lifestyle choices?

Panellists: Chen Long (Luohan Academy), Brune Poirson (Accor), Massamba Thioye (UNFCCC). Moderator: Benoît Cœuré (BIS)

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Panel O | Green Swan Conference 2021

Can we provide concrete green investment opportunities for the current abundance of savings? How to structure implied Temperature/ 1.5-degree Celsius Portfolios?

Panellists: Jean-François Coppenolle (Aviva), Niklas Ekvall (AP4), Marcin Kacperczyk (Imperial College London), Johanna Koeb (Zurich Insurance), Isabelle Mateos y Lago (BlackRock). Moderator: Frédéric Samama (CPR)

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Special guest speech by Andrew Bailey | Green Swan Conference

Tackling climate change for real: progress and next steps

Special guest speech by Andrew Bailey (Governor, Bank of England) at the Green Swan Conference, 3 June 2021

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Special guest speech by Sarah Bloom Raskin | Green Swan Conference

Climate change and the precautionary imperative

Special guest speech by Sarah Bloom Raskin (former Deputy Secretary, United States Treasury; former Governor, Federal Reserve Board) at the Green Swan Conference, 3 June 2021.

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Panel J | Green Swan Conference 2021

What are the methods and metrics currently being used to assess climate-related risks in investment decisions?

Panellists: Remy Briand (MSCI), Herman Bril (Arabesque Asset Management), Olivier Rousseau (Fonds de Réserve pour les Retraites), Anne Simpson (CalPERS). Moderator: Benoît Mojon (BIS).

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Panel K | Green Swan Conference 2021

What are the challenges to having “greener cities” – and how to finance them?

Panellists: Barbara Buchner (Climate Policy Initiative), Thierry Déau (Meridiam), Torsten Ehlers (BIS), Josué Tanaka (C40 Cities; LSE), Shalini Vajjhala (re:focus partners). Moderator: Anandakumar Jegarasasingam (BIS)

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Panel L | Green Swan Conference 2021

How is Green R&D doing? How critical is alternative energy financing?

Panellists: Tim Adams (IIF), Charlie Donovan (Imperial College London), Suren Erkman (University of Lausanne), Thierry Fornas (EcoAct), Ian Goldin (University of Oxford). Moderator: Laurent Clerc (Banque de France)

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Special guest speech by Frank Elderson | Green Swan Conference

Special guest speech by Frank Elderson (Member of the Executive Board and Vice-Chair of the Supervisory Board, ECB; Chair, NGFS)

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Panel G | Green Swan Conference 2021

How should financial stability, regulation and supervision be considered in the context of increasing climate-related risks?

Panellists: Tobias Adrian (IMF), Michel Aglietta (CEPII), Yannis Dafermos (SOAS University of London), Arminio Fraga (Gávea Investimentos), Timo Löyttyniemi (The State Pension Fund of Finland), Hélène Rey (London Business School). Moderator: Fernando Restoy (BIS)

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Panel H | Green Swan Conference 2021

Measuring climaterelated risks in macroeconomic and global terms: do we have the right mind set, tools and models?

Panellists: Robert Litterman (Kepos Capital), Thierry Philipponnat (Finance Watch), Jean Pisani-Ferry (European University Institute), Carmen Reinhart (World Bank), Nick Robins (LSE), Laurence Tubiana (European Climate Foundation). Moderator: Enrique Alberola (BIS).

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Panel I | Green Swan Conference 2021

Do we have the right financial and insurance instruments to deal with the impact of climate change?

Panellists: Bertrand Badré (Blue like an Orange Sustainable Capital), Jeffrey Bohn (Swiss Re Institute), Rafael Del Villar Alrich (Banco de México), Andreas Dombret (Columbia University SIPA; Oliver Wyman). Moderator: Ulrike Elsenhuber (BIS)

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Special guest speech by Joseph Stiglitz | Green Swan Conference

Joseph Stiglitz (Professor, Columbia University) speaks at the Green Swan Conference 2021

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Special guest speech by Tao Zhang | Green Swan Conference

Tao Zhang speaks about "Climate change: our most global challenge" at the Green Swan Conference 2021.

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Introduction by Sylvie Goulard and special guest speech by Mario Monti | Green Swan Conference

Introduction by Sylvie Goulard (Second Deputy Governor, Banque de France)
Special guest speech by Mario Monti (President of Bocconi University; former Prime Minister of Italy)

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

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Panel D | Green Swan Conference 2021

What is the role of governments and IFIs in mitigating risks and coordinating the policy response to climate change?

Panellists: Maurice Obstfeld (UC Berkeley), José Antonio Ocampo (Columbia University SIPA), Ceyla Pazarbasioglu (IMF), Adam Posen (Peterson Institute for International Economics), Marc Sadler (World Bank). Moderator: Patrick Bolton (Columbia University)

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Luiz Pereira da Silva on green swans (part 2)

At the BIS virtual seminar on “The Green Swan – central banking and financial stability in the age of climate change”, Luiz Pereira da Silva gives a thorough presentation on green swans and discusses related analytical and practical issues, as well as the need for global coordination to tackle climate change.

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Luiz Pereira da Silva on green swans (part 1)

At the BIS virtual seminar on “The Green Swan – central banking and financial stability in the age of climate change”, Luiz Pereira da Silva gives a thorough presentation on green swans and discusses related analytical and practical issues, as well as the need for global coordination to tackle climate change.

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Project Rio

Rio is a prototype of a central bank-specific, real-time capable market monitoring platform. The cloud-based stream processing platform will process real-time financial data feeds and compute relevant liquidity and market risk measures.

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Project Helvetia and Project Rio

Project Helvetia, undertaken with the Swiss National Bank (SNB) and the financial infrastructure operator SIX, demonstrates the functional feasibility and legal robustness of settling tokenised assets with a wholesale CBDC (proof of concept 1) and through linking a digital ledger technology platform to existing payment systems (proof of concept 2) in a near-live setup.

Rio is a prototype of a central bank-specific, real-time capable market monitoring platform. The cloud-based stream processing platform will process real-time financial data feeds and compute relevant liquidity and market risk measures.

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Banking on a new digital ecosystem – new opportunities, business models and regulation

Technologically enabled financial innovation is spurring new business models, applications, processes, and products with an associated material effect on financial markets and institutions and the provision of financial services. Customer preferences, particularly amongst millennials and "digital natives" regarding convenience, speed and cost of financial services are driving the demand for a seamless and user-friendly interface. Business opportunities have opened for new entrants that are able to scale up faster and in more cost-effective manners than established institutions, which may have inefficient or legacy IT systems. Non-banks and challenger banks are offering products that used to be exclusive to the financial services, disrupting the banking ecosystem and thus increasing the

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