Central banking's green limits spark a legal debate in Sweden

How should a central bank respond to global warming? In Sweden, a body created to monitor government efforts to fight climate change says the law that guides monetary policy needs a serious overhaul.

Sweden's Riksbank. | Photo: Riksbank

Cecilia Hermansson, the vice chair of the Swedish Climate Policy Council, is advising the government to include environmental considerations in the Riksbank Act, which is currently under review. She also says an existing proposal to amend the law doesn't go nearly far enough.

"Climate is mentioned four times in over 2,000 pages," Hermansson said in an interview.

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