Researchers from around the globe will convene at the San Francisco Fed tomorrow for the Federal Reserve System’s first research conference on the economic impacts of climate change.
Attendees will discuss quantifying the climate risk faced by households, firms, and the financial system; measuring the economic costs and consequences of climate change; accounting for the effects of climate change on financial asset prices; and understanding the potential implications of climate change for monetary, supervisory and trade policy.
“Understanding the risks associated with climate-related events is essential to achieving our mission and promoting a healthy, stable economy – now and into the future,” explained Mary Daly, president and CEO of the San Francisco Fed. “As a public service organization, the San Francisco Fed has a responsibility to the people and the communities we serve. Our communities are telling us they need to know more about the impact of climate change on their local economies and this conference will help deepen our understanding of this issue.”
The 2019 Economics of Climate Change conference will convene a broad array of researchers, academics and monetary policymakers. Speakers include President Daly as well as Lael Brainard, governor, Federal Reserve Board of Governors, and Frank Elderson, who serves as a member of the governing board, Netherlands Central Bank (De Nederlandsche Bank, DNB) and also chair of the Network for Greening the Financial System.
Attendance is by invitation only. The conference will be available via livestream at frbsf.org.
Friday’s research conference follows a recent San Francisco Fed publication, “Strategies to Address Climate Change Risk in Low- and Moderate-Income Communities,” released in October 2019, which assembled 19 climate-related articles from more than three dozen researchers from outside the Federal Reserve. Convening external thought leadership and highlighting research and best practices on topics relevant to the nation’s economic health and stability is a longstanding part of how the San Francisco Fed executes its mission.
The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.