Green Swan 2021: coordinating finance on climate
Joint virtual conference by the Bank for International Settlements, Bank of France, International Monetary Fund and Network for Greening the Financial System, 2-4 June 2021.
A volume featuring special guest speeches and high-level panels of the conference is available here.
The Bank for International Settlements, Bank of France, International Monetary Fund and Network for Greening the Financial System joined forces to co-sponsor a truly unique global virtual conference on "How in practice can the financial sector take immediate action against climate change-related risks?".
A global virtual conference
An unprecedented line-up of speakers and panellists, including high-level policymakers, experts and practitioners from central banking, the regulatory community, the financial sector, civil society and academia
Join the conversation on social media using the hashtag #GreenSwanConference.
In the current age, we are all well aware of the main risks and challenges posed by climate change. The 2020 book The green swan: central banking and financial stability in the age of climate change called for strengthening coordination to address these risks, and for immediate action. Many initiatives by central banks and other actors are already under way – with more under development.
This conference showcased these initiatives and helped to identify more potential practical solutions. Its results can serve as a global public good for other events ahead of COP26, and beyond.
The conference gathered the four heads of the co-sponsoring organisations, three Nobel Laureates, 15+ current and former central bank Governors and top executives, 25+ senior policymakers and official sector experts, 20+ prominent academics and 25+ senior executives and CEOs from the private sector. They discussed the most feasible and concrete proposals for a more sustainable economy, financial sector and society.
Featured speakers (in alphabetical order)
![]() Andrew BaileyGovernor, Bank of England |
![]() Sarah Bloom RaskinFormer Deputy Secretary, United States Treasury / former Governor, Federal Reserve Board |
![]() Mark CarneyFinance Adviser to the UK Prime Minister for COP26 / UN Special Envoy on Climate Action and Finance |
![]() Agustín CarstensGeneral Manager, BIS |
![]() Frank EldersonMember of the Executive Board and Vice-Chair of the Supervisory Board, ECB / Chair, NGFS |
![]() Robert EngleMichael Armellino Professor of Finance, NYU Stern School of Business |
![]() Laurent FabiusFormer President of the COP21 / Paris Agreement |
![]() Kristalina GeorgievaManaging Director, IMF |
![]() Al GoreChairman, Generation Investment Management |
![]() Sylvie GoulardSecond Deputy Governor, Banque de France |
![]() Christine LagardePresident, ECB |
![]() Mario MontiPresident of Bocconi University / former Prime Minister, Italy |
![]() Luiz Pereira da SilvaDeputy General Manager, BIS |
![]() Jerome PowellChair, Federal Reserve Board of Governors |
![]() Minouche ShafikDirector, London School of Economics |
![]() Nicholas SternIG Patel Professor of Economics and Government / Chair, Grantham Research Institute, LSE |
![]() Joseph StiglitzProfessor, Columbia University |
![]() Gillian TettChair of the Editorial Board and Editor-at-large (US), Financial Times |
![]() François Villeroy de GalhauGovernor, Banque de France |
![]() Ignazio ViscoGovernor, Bank of Italy / G20 Presidency |
![]() Jens WeidmannChair of the BIS Board of Directors and President of the Deutsche Bundesbank |
![]() Yi GangGovernor, People's Bank of China |
![]() Tao ZhangDeputy Managing Director, IMF |
![]() Zhou XiaochuanPresident, China Society for Finance and Banking / former Governor, People's Bank of China |
4 June
3 June
2 June
Sessions marked with were livestreamed on this page.
2 June
12:15PM - 1:15PM | Introduction: Why this Conference? How in practice can the financial sector take immediate action against climate change-related risks? Moderator: Minouche Shafik (LSE)
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1:15PM - 1:45PM |
Mainstreaming climate risk management: what next? Mark Carney (Finance Adviser to the UK Prime Minister for COP 26; UN Special Envoy on Climate Action and Finance) |
1:45PM - 3:00PM |
Parallel sessions |
3:00PM - 3:15PM | Break |
3:15PM - 3:45PM | Special guest speech by Robert Engle (Michael Armellino Professor of Finance, NYU Stern School of Business) |
3:45PM - 4:15PM |
Our climate crisis, the financial system and the sustainability revolution Al Gore (Chairman, Generation Investment Management) |
4:15PM - 5:30PM | Parallel session: Panel discussions
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5:30PM - 5:45PM | Break |
5:45PM - 6:00PM | Climate risks, financial markets and central banks' risk management Jens Weidmann (Chair of the BIS Board of Directors and President of the Deutsche Bundesbank) |
6:00PM - 6:30PM | Climate change: our most global challenge Tao Zhang (Deputy Managing Director, IMF) |
3 June
1:00PM - 1:15PM | Introduction by Sylvie Goulard (Second Deputy Governor, Banque de France) |
1:15PM - 1:45PM | Special guest speech by Mario Monti (President of Bocconi University; former Prime Minister of Italy) |
1:45PM - 3:00PM | Parallel session: Panel discussions
|
3:00PM - 3:30PM | Special guest speech by Joseph Stiglitz (Professor, Columbia University) |
3:30PM - 3:45PM | Break |
3:45PM - 4:15PM | Special guest speech by Frank Elderson (Member of the Executive Board and Vice-Chair of the Supervisory Board, ECB; Chair, NGFS) |
4:15PM - 5:30PM | Parallel session: Panel discussions
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5:30PM - 6:00PM | Climate change and the precautionary imperative Sarah Bloom Raskin (former Deputy Secretary, United States Treasury; former Governor, Federal Reserve Board) |
6:00PM - 6:30PM | Tackling climate change for real: progress and next steps Andrew Bailey (Governor, Bank of England) |
4 June
8:30AM - 9:00AM | Special guest speech by Laurent Fabius (former President of COP21 / Paris Agreement) |
9:00AM - 10:15AM | Parallel sessions: Panel discussions
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10:15AM - 10:30AM | Break |
10:30AM - 11:00AM | 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) |
11:00AM - 12:15PM | Parallel session: Panel discussions
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12:15PM - 12:30PM | Break |
12:30PM - 1:00PM | Economic leadership for transformation in a critical decade: managing risks and fostering investment 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) |
1:00PM - 2:45PM | Concluding panel
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2:45PM - 3:00PM |
Main messages of the conference by Luiz A Pereira da Silva (Deputy General Manager, BIS) |
3:00PM - 3:30PM | The conference messages in light of the G20 Presidency programme Ignazio Visco (Governor, Bank of Italy; G20 Presidency) |