Central Banking, Monetary Policy and the Environment

Edited by Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy, Founding Editor Emeritus, Review of Keynesian Economics and Director, Monetary Policy Institute, Sylvio Kappes, Assistant Professor, Federal University of Alagoas, Brazil, Co-Editor, Review of Political Economy and Co-Director, Monetary Policy Institute and Guillaume Vallet, Full Professor, Université Grenoble Alpes and Research Fellow, Centre de Recherche en Economie de Grenoble (CREG), France

‘The editors of this book have produced an amazing book for an equally amazing new series on central banking that could not have come out at a better time. Climate change and environmental issues are at the top of our concerns, and many are wondering what role central banks have to play in this saga. The editors have brought together an incredible list of established and younger scholars alike, from a heterodox perspective. They offer a refreshing analysis of the current situation and dare to offer credible and bold solutions for a green way forward. This book must be on the shelf of every student of economics.’

• Contents:Introduction to Central Banking, Monetary Policy and the Environment 1Louis-Philippe Rochon, Sylvio Kappes and Guillaume Vallet1 Central banks and the zero-carbon transition: aninstitutional challenge 21Robert Guttmann2 Monetary policy, environmental sustainability and theclimate emergency 54Malcolm Sawyer3 Endogenous money, green finance and central bank power 72Basil Oberholzer4 Monetary and financial policies for an ecologicaltransition: An overview of central banks’ actions and somereflections on post-Keynesian insights 90Romain Svartzman5 Environmental change and the international lender of last resort 110Michel Aglietta and Etienne Espagne6 Climate change, financial instability and central banking 134Giada Valsangiacomo7 Towards an ecological market 154Wesley C. Marshall8 Financial regulation, uncertainty and the transition toa net-zero-carbon economy 175Josh Ryan-Collins9 Money and the environment 199Eric Kemp-Benedict10 A green mandate: The Central Bank of Nigeria andsustainable development 218Salewa Olawoye-Mann11 Mind the gap: Monetary policy and financial regulationsfor supporting green finance 233Lilit Popoyan and Giorgos GalanisIndex