As an area of common concern, Governors of the Association of Southeast Asian Nations (ASEAN) central banks and monetary authorities
[1] agreed on the need to undertake a study for ASEAN central banks to better understand, manage and respond to climate and environment-related risks. In this regard, Bank Negara Malaysia (BNM) as lead of the Task Force on the Roles of ASEAN Central Banks in Managing Climate and Environment-related Risks, is pleased to share the above Report. The Report was endorsed by ASEAN Central Bank Governors on 2 October 2020.
The Report assesses the implications of climate and environment-related risks on both financial and monetary stability, the roles and limits of central banks and puts forward a set of non-binding recommendations that can be considered by central banks in the region. It consciously considers the ASEAN context, perspectives and state of readiness.
Remarks:
[1] Autoriti Monetari Brunei Darussalam, National Bank of Cambodia, Bank Indonesia, Bank of the Lao P.D.R., Bank Negara Malaysia, Central Bank of Myanmar, Monetary Authority of Singapore, Bank of Thailand, Bangko Sentral ng Pilipinas and State Bank of Vietnam, are collectively referred to as ASEAN central banks.
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