The central bank of Taiwan announced on Friday that it would start factoring climate change risks into its projections for inflation and economic growth and that it would modify monetary policy to support sustainable development.
Taiwan announced its intention to achieve net-zero emissions by 2050 last year. To that end, the government has committed to spending T$900 billion ($29 billion) by 2030.
In a statement on climate change, the central bank raised the possibility of ‘green swan’ events—an unexpected environmental disaster related to global warming and pollution that would set off a financial crisis.
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