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- Title
Environmental risk management of the international reserves: an applied framework discussion with the Central Banks from Latin America and the Caribbean.
- Authors
Torinelli, Viviane Helena; de A. da Silva Jr, Antônio Francisco; Martinez-Jaramillo, Serafín; Silveira Andrade, José Célio
- Abstract
This is an applied framework discussion with central banks (CBs) from Latin America and the Caribbean (LAC) regarding the environmental risk management (ERM) of the international reserves (IRs). This study is based on a sample of CBs from LAC, taking into consideration the national exports of the respective countries, the risk of sudden stops in capital flows and the IRs' economic objectives. Commodities are economically relevant for all analyzed countries. The specific environmental risk exposures are discussed, as are the alternatives to ERM through the IRs' strategic asset allocation (SAA). The framework discussed herein includes environmental risk analysis (ERA) in the IRs' traditional SAA approach. As a result, IRs investments can become more resilient to environmental and climate risk exposure.
- Subjects
LATIN America; CENTRAL banking industry; ENVIRONMENTAL risk assessment
- Publication
Cadernos de Finanças Públicas, 2022, Vol 22, Issue 1, p2
- ISSN
1806-8944
- Publication type
Article