Central banks: powering sustainable finances, combating climate change. Researcher reveals all.

TLDR: Central banks have a crucial role to play in promoting sustainable financial practices and fighting climate change, according to a researcher at Northeastern University. Jennie C. Stephens argues that central banks have the power to determine whether society invests in fossil fuels or green energy. She suggests several financial innovations that central banks could employ, such as purchasing green bonds and assets related to renewable energy while phasing out investments in the fossil fuel industry. Stephens also proposes the creation of a new currency, like carbon coins, for ecological projects. She notes that transitioning to a central banking system that prioritizes the health of the planet and people will require reduced production of goods and different types of jobs, but it could be a better alternative to the current financial system.