Central Banks Lack Tools to Tackle Climate Change, SNB’s Jordan Says

From bnnbloomberg.ca

Central banks lack the tools to fight climate change and should stick to their core tasks, Swiss National Bank President Thomas Jordan said. “I am convinced that it’s very important to maintain a very narrow mandate — we can only justify central bank independence by having a narrow mandate of price stability, supporting the economy,” he told a panel in Davos on on Thursday. “We do not really have effective and efficient instruments to tackle climate change.” Central banks around the world are considering ways to help save the planet without being dragged into political battles that could undermine their ... (full story)