New Book: "Central Banking and Sustainability", ed. Kern Alexander & Seraina Grünewald
Chair of the CCS, Professor Kern Alexander, together with Professor Seraina Grünewald, Professor at the University of St. Gallen and the European University Institute in Florence, have edited a new book entitled "Central Banking and Sustainability", published by Cambridge University Press.
A brief summary found on the back cover gives a striking overview of the relevance of sustainable practices and policies within the banking sector:
"Sustainability matters increasingly affect and concern central banks around the globe, while the perception of what they are legally empowered to do may differ depending on the jurisdiction at hand. This volume systematically assesses the role of central banks in matters of sustainability from different perspectives in academia and central banking practice – some more favourable of a proactive engagement of central banks in sustainability policies, others more critical and vigilant of legal and legitimacy boundaries of such engagement. The methodological approaches the authors deploy include legal-doctrinal analysis, qualitative empirical analysis, and economic theory. The essays together provide a balanced assessment of the role central banks can and should play in sustainability matters, addressing legal aspects, legitimacy concerns and concerns of inter-institutional balance as well as economic and operational considerations. The book covers both developed and developing economies, where central banks are already facing the dire consequences of the warming climate."