Commonwealth Central Bank Governors met in Marrakesh, Morocco today on the sidelines of the World Bank and International Monetary Fund meetings.
The critical role of central banks in building resilience to climate change and mobilising green finance were part of the discussion.
During the meeting, the Central Bank Governors noted that Morocco's response to the recent earthquake has been commendable but highlighted the need for comprehensive disaster preparedness and recovery plans across the Commonwealth and the rest of the world.
Various avenues for central bank involvement in combating climate change, ranging from green monetary policy to prudential regulation and policymaking were also explored.
A key objective of the meeting was to highlight strategies on how to align central banks' actions with their primary goals of ensuring financial and price stability while supporting sustainability objectives.
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