By Lucy Craymer
WELLINGTON (Reuters) – New Zealand’s central bank governor Adrian Orr said on Monday that the Reserve Bank of New Zealand was working with more than 110 central banks around the world to better understand and integrate climate considerations into their work.
“As the climate continues to change, wellbeing and prosperity are harmed. To deliver on the Reserve Bank’s purpose, it’s important that we understand this context,” Orr said in a speech at a conference on climate change and business.
Orr added that financial stability is best maintained when all relevant risks are identified, priced, and allocated to those best able to manage them.
“Climate impacts are here now, and the risks of further impacts are here to stay. But there is still much within our control,” Orr said.
(Reporting by Lucy Craymer; Editing by Edmund Klamann)
