Interview with Frank Elderson, conducted by NVDE

20 February 2025

TIME has named you one of the 100 most influential climate leaders in business. Why are you so motivated to integrate climate and nature-related risks into exercising the mandate of central banks and supervisors?

Climate, nature and the economy are deeply interconnected and interdependent. The twin climate and nature crises are sources of financial risk. For central banks and supervisors, addressing these issues is therefore neither an option nor a political choice – it is an obligation that falls squarely within our mandate. If central bankers and supervisors want to effectively pursue their tasks of maintaining price stability and keeping the banking sector safe, they need to be mindful of the environment in which they operate. This means considering the impact of the climate and nature crises on inflation and banks’ safety and soundness.

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