References
- Adams, J. (2014). PRA response to DEFRA on climate change adaption reporting. Bank of England Prudential Regulation Authority. https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/letter/2014/pra-adaptation-reporting-letter-june-2014.pdf
- Baer, M., Campiglio, E., & Deyris, J. (2021). It takes two to dance: Institutional dynamics and climate-related financial policies. Ecological Economics, 190, article no. 107210. https://doi.org/10.1016/j.ecolecon.2021.107210
- Bailey, A. (2020, June 25). Response to the remit for the Financial Policy Committee. Bank of England. https://www.bankofengland.co.uk/-/media/boe/files/letter/2020/governor-letter-250620-fpc.pdf
- Bailey, A. (2021). Letter to Philip Dunne MP, 8 February 2021. Bank of England. https://committees.parliament.uk/publications/4673/documents/47073/default/
- Baker, A. (2013). The new political economy of the macroprudential ideational shift. New Political Economy, 18(1), 112–139. https://doi.org/10.1080/13563467.2012.662952
- Baker, A. (2015). Varieties of economic crisis, varieties of ideational change: How and why financial regulation and macroeconomic policy differ. New Political Economy, 20(3), 342–366. https://doi.org/10.1080/13563467.2014.951431
- Baker, A. (2018). Macroprudential regimes and the politics of social purpose. Review of International Political Economy, 25(3), 293–316. https://doi.org/10.1080/09692290.2018.1459780
- Baker, A., & Widmaier, W. (2014). The institutionalist roots of macroprudential ideas: Veblen and Galbraith on regulation, policy success and overconfidence. New Political Economy, 19(4), 487–506. https://doi.org/10.1080/13563467.2013.796447
- Bank of England. (2009a, March 19). Asset purchase facility - Corporate bond secondary market purchase scheme. https://www.bankofengland.co.uk/-/media/boe/files/news/2009/march/asset-purchase-facility-corporate-bond-secondary-market-purchase-scheme.pdf
- Bank of England. (2009b, November). The role of macroprudential policy. https://www.bankofengland.co.uk/-/media/boe/files/paper/2009/the-role-of-macroprudential-policy.pdf
- Bank of England. (2015). The impact of climate change on the UK insurance sector. Bank of England Prudential Regulatory Authority. https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/impact-of-climate-change-on-the-uk-insurance-sector.pdf
- Bank of England. (2017). Quarterly Bulletin: The Bank of England‘s response to climate change. https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2017/the-banks-response-to-climate-change.pdf
- Bank of England. (2018a). The financial crisis – 10 years on. https://www.bankofengland.co.uk/news/2018/september/the-financial-crisis-ten-years-on
- Bank of England. (2018b, June). The Bank of England Act 1998, the Charters of the Bank and related documents. https://www.bankofengland.co.uk/-/media/boe/files/about/legislation/boe-charter.pdf
- Bank of England. (2018c, September). Transition in thinking: The impact of climate change on the UK banking sector. Bank of England Prudential Regulatory Authority. https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/report/transition-in-thinking-the-impact-of-climate-change-on-the-uk-banking-sector.pdf
- Bank of England. (2019a). Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Supervisory Statement SS3/19). Bank of England Prudential Regulatory Authority. https://www.bankofengland.co.uk/prudentialregulation/publication/2019/enhancing-banks-and-insurers-approaches-tomanaging-the-financial-risks-from-climate-change-ss
- Bank of England. (2019b). General Insurance Stress Test 2019: Scenario specification, guidelines and instructions. Bank of England Prudential Regulatory Authority. https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/letter/2019/general-insurance-stress-test-2019-scenario-specification-guidelines-and-instructions.pdf
- Bank of England. (2019c). Life Insurance Stress Test 2019: Scenario specification, guidelines and instructions. Bank of England Prudential Regulatory Authority. https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/letter/2019/life-insurance-stress-test-2019-scenario-specification-guidelines-and-instructions.pdf
- Bank of England. (2019d, December). Discussion paper: The 2021 biennial exploratory scenario on the financial risks from climate change. https://www.bankofengland.co.uk/paper/2019/biennial-exploratory-scenario-climate-change-discussion-paper
- Bank of England. (2020, June). The Bank of England‘s climate-related financial disclosure 2020. https://www.bankofengland.co.uk/-/media/boe/files/annual-report/2020/climate-related-financial-disclosure-report-2019-20.pdf
- Bank of England. (2021a). Greening our Corporate Bond Purchase Scheme (CBPS). https://www.bankofengland.co.uk/markets/greening-the-corporate-bond-purchase-scheme
- Bank of England. (2021b). Our response to coronavirus (Covid). https://www.bankofengland.co.uk/coronavirus
- Bank of England. (2021c, May). Options for greening the Bank of England’s Corporate Bond Purchase Scheme. https://www.bankofengland.co.uk/paper/2021/options-for-greening-the-bank-of-englands-corporate-bond-purchase-scheme
- Bank of England. (2022a). Asset purchase facility: Corporate Bond Purchase Scheme sales programme – Market notice 5 May 2022. https://www.bankofengland.co.uk/markets/market-notices/2022/may/asset-purchase-facility-market-notice-5-may-2022
- Bank of England. (2022b). Joint HM Treasury and Bank of England energy markets financing scheme (EMFS) – market notice 17 October 2022. https://www.bankofengland.co.uk/markets/market-notices/2022/october/joint-hmt-boe-emfs-market-notice-17-october-2022
- Bank of England. (2023). Bank of England report on climate-related risks and the regulatory capital frameworks. https://www.bankofengland.co.uk/prudential-regulation/publication/2023/report-on-climate-related-risks-and-the-regulatory-capital-frameworks
- Bell, S., & Feng, H. (2013). The rise of the People’s Bank of China. Harvard University Press. https://doi.org/10.4159/harvard.9780674073593
- Bell, S., & Hindmoor, A. (2017). Structural power and the politics of bank capital regulation in the United Kingdom. Political Studies, 65(1), 103–121. https://doi.org/10.1177/0032321716629479
- Benoit, K., Watanabe, K., Wang, H., Nulty, P., Obeng, A., Müller, S., & Matsuo, A. (2018). Quanteda: An R package for the quantitative analysis of textual data. Journal of Open Source Software, 3(30), 774. https://doi.org/10.21105/joss.00774
- Binham, C., & Crow, D. (2018, December 17). Carney plans to test UK banks’ resilience to climate change. Financial Times. https://www.ft.com/content/0ba2390a-ffd4-11e8-ac00-57a2a826423e
- Birks, M., & Mills, J. (2015). Grounded theory: A practical guide (2nd ed.). SAGE.
- Blyth, M. (2002). Great transformations: Economic ideas and institutional change in the twentieth century. Cambridge University Press.
- Boneva, L., Ferrucci, G., & Mongelli, F. P. (2022). Climate change and central banks: What role for monetary policy? Climate Policy, 22(6), 770–787. https://doi.org/10.1080/14693062.2022.2070119
- Braun, B. (2015). Preparedness, crisis management and policy change: The Euro area at the critical juncture of 2008–2013. The British Journal of Politics and International Relations, 17(3), 419–441. https://doi.org/10.1111/1467-856X.12026
- Breeden, S. (2019). Avoiding the storm: Climate change and the financial system. Official Monetary & Financial Institutions Forum. https://www.bankofengland.co.uk/speech/2019/sarah-breeden-omfif
- Breeden, S. (2021, May 18). Climate change – Plotting our course to net zero. University of Edinburgh and Environmental Association for Universities and Colleges Webinar. https://www.bis.org/review/r210519b.pdf
- Breeden, S., & Hauser, A. (2019). A climate Minsky moment. In D. Kyriakopoulou (Ed.), Global public investor 2019 (pp. 141). Official Monetary and Financial Institutions Forum.
- Burden, L. (2022, May 16). Political attacks on BOE risk making inflation worse, citi warns. Bloomberg. https://www.bloomberg.com/news/articles/2022-05-16/political-attacks-on-boe-risk-making-inflation-worse-citi-warns
- Campbell, J. L. (2004). Institutional change and globalization. Princeton University Press.
- Capoccia, G., & Kelemen, R. D. (2007). The study of critical junctures: Theory, narrative, and counterfactuals in historical institutionalism. World Politics, 59(3), 341–369. https://doi.org/10.1017/S0043887100020852
- Carney, M. (2015). Breaking the tragedy of the horizon - Climate change and financial stability (Lloyd's of London). Bank of England. https://www.bankofengland.co.uk/speech/2015/breaking-the-tragedy-of-the-horizon-climate-change-and-financial-stability
- Carney, M. (2019, March 21). A new horizon. Bank of England. European Commission Conference: A global approach to sustainable finance. https://www.bankofengland.co.uk/speech/2019/mark-carney-speech-at-european-commission-high-level-conference-brussels
- Carney, M. (2020, February 27). Letter from Governor Mark Carney to Mel Stride MP. Bank of England. https://publications.parliament.uk/pa/cm5801/cmselect/cmtreasy/correspondence/Mark-Carney-BoE-to-Chair-270220.pdf
- Casey, T. (2015). How macroprudential financial regulation can save neoliberalism. The British Journal of Politics and International Relations, 17(2), 351–370. https://doi.org/10.1111/1467-856X.12042
- Cashore, B., & Howlett, M. (2007). Punctuating which equilibrium? Understanding thermostatic policy dynamics in pacific northwest forestry. American Journal of Political Science, 51(3), 532–551. https://doi.org/10.1111/j.1540-5907.2007.00266.x
- Charmaz, K. (2014). Constructing grounded theory (2nd ed.). SAGE.
- Charmaz, K., & Thornberg, R. (2021). The pursuit of quality in grounded theory. Qualitative Research in Psychology, 18(3), 305–327. https://doi.org/10.1080/14780887.2020.1780357
- Corbin, J. M., & Strauss, A. L. (2008). Basics of qualitative research: Techniques and procedures for developing grounded theory (3rd ed.). SAGE.
- Dafermos, Y. (2021, September). Climate change, central banking and financial supervision: Beyond the risk exposure approach (SOAS Department of Economics Working Paper No. 243). SOAS University of London. https://www.soas.ac.uk/economics/research/workingpapers/file155297.pdf
- Dafermos, Y., Gabor, D., Nikolaidi, M., & van Lerven, F. (2022, January). An environmental mandate, now what? SOAS University of London; University of Greenwich; University of the West of England. https://eprints.soas.ac.uk/36190/1/Dafermos%20et%20al%20%282022%29%20An%20environmental%20mandate.pdf
- Deyris, J. (2023). Too green to be true? Forging a climate consensus at the European Central Bank. New Political Economy, 1–18. Advance online publication. https://doi.org/10.1080/13563467.2022.2162869
- Dietsch, P., Fontan, C., Dion, J., & Claveau, F. (2022). Green central banking. SocArXiv. https://doi.org/10.31235/osf.io/ymre2
- Dikau, S., & Volz, U. (2021). Central bank mandates, sustainability objectives and the promotion of green finance. Ecological Economics, 184, 107022. https://doi.org/10.1016/j.ecolecon.2021.107022
- Eichengreen, B., El-Erian, M., Fraga, A., Ito, T., Pisani-Ferry, J., Prasad, E., Rajan, R., Ramos, M., Reinhart, C., Rey, H., Rodrik, D., Rogoff, K., Shin, H. S., Velasco, A., Di Weder Mauro, B., & Yu, Y. (2011). Rethinking central banking. Committee on International Economic Policy and Reform. https://www.brookings.edu/research/rethinking-central-banking/
- Ferran, E. (2011). The break-up of the financial services authority. Oxford Journal of Legal Studies, 31(3), 455–480. https://doi.org/10.1093/ojls/gqr006
- Financial Stability Board. (2015, December 4). FSB to establish Task Force on Climate-related Financial Disclosures [Press release]. https://assets.bbhub.io/company/sites/60/2015/12/12-4-2015-Climate-change-task-force-press-release.pdf
- Fontan, C., Claveau, F., & Dietsch, P. (2016). Central banking and inequalities. Politics, Philosophy & Economics, 15(4), 319–357. https://doi.org/10.1177/1470594X16651056
- Goodhart, C. (2010). The changing role of central banks (BIS Working Papers No. 326). Bank for International Settlements. https://www.bis.org/publ/work326.pdf
- Goodhart, C., Gabor, D., Vestergaard, J., & Ertürk, I. (Eds.). (2014). Central banking at a crossroads: Europe and beyond. Anthem Press. http://www.jstor.org/stable/j.ctt1gxpd6m
- Haldane, A. G. (2009, May 8). Small lessons from a big crisis. Federal Reserve Bank of Chicago. Reforming Financial Regulation, Chicago. https://www.bis.org/review/r090710e.pdf
- Haldane, A. G. (2012, October 29). A leaf being turned. Occupy Economics. Socially useful banking, London. https://www.bankofengland.co.uk/speech/2012/a-leaf-being-turned
- Haldane, A. G. (2013, April 16). Macroprudential policies - When and how to use them. International Monetary Fund. Rethinking Macro Policy II: First Steps and Early Lessons. https://www.imf.org/external/np/seminars/eng/2013/macro2/pdf/ah.pdf
- Haldane, A. G. (2017, October 12). Rethinking financial stability. Peterson Institute for International Economics. Rethinking Macro Policy IV. https://www.bankofengland.co.uk/speech/2017/rethinking-financial-stability
- Hall, P. A. (1993). Policy paradigms, social learning, and the state: The case of economic policymaking in Britain. Comparative Politics, 25(3), 275–296. https://doi.org/10.2307/422246
- Hammond, P. (2017, March 8). Remit and recommendations for the Financial Policy Committee. HM Treasury. https://www.gov.uk/government/publications/remit-and-recommendations-for-the-financial-policy-committee-spring-budget-2017
- Hay, C. (2002). Political analysis. Bloomsbury Academic.
- Helleiner, E. (2014). The status quo crisis: Global financial governance after the 2008 financial meltdown. Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199973637.001.0001
- Hidalgo-Oñate, D., Fuertes-Fuertes, I., & Cabedo, J. D. (2023). Climate-related prudential regulation tools in the context of sustainable and responsible investment: A systematic review. Climate Policy, 1–18. https://doi.org/10.1080/14693062.2023.2179587
- HM Treasury. (2010, July). A new approach to financial regulation: Judgement, focus and stability. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/81389/consult_financial_regulation_condoc.pdf
- Hodson, D., & Mabbett, D. (2009). UK economic policy and the global financial crisis: Paradigm lost? JCMS: Journal of Common Market Studies, 47(5), 1041–1061. https://doi.org/10.1111/j.1468-5965.2009.02034.x
- Hungin, H., & James, S. (2019). Central bank reform and the politics of blame avoidance in the UK. New Political Economy, 24(3), 334–349. https://doi.org/10.1080/13563467.2018.1446924
- Kay, A. (2011). UK monetary policy change during the financial crisis: Paradigms, spillovers, and goal co-ordination. Journal of Public Policy, 31(2). https://www.jstor.org/stable/pdf/41302613.pdf
- Kedward, K., Gabor, D., & Ryan-Collins, J. (2022). Aligning finance with the green transition: From a risk-based to an allocative green credit policy regime (Working Paper No. 11). UCL Institute for Innovation and Public Purpose. https://doi.org/10.2139/ssrn.4198146
- Krebel, L., & van Lerven, F. (2022). Green credit guidance: A green term funding scheme for a cooler future. New Economics Foundation. https://neweconomics.org/uploads/files/NEF_GCG.pdf
- Levingston, O. (2021). Minsky’s moment? The rise of depoliticised Keynesianism and ideational change at the Federal Reserve after the financial crisis of 2007/08. Review of International Political Economy, 28(6), 1459–1486. https://doi.org/10.1080/09692290.2020.1772848
- Minsky, H. (1986). Stabilizing an unstable economy. Yale University Press.
- Office for National Statistics (ONS). (2023). GDP - Data tables. Office for National Statistics. https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/uksecondestimateofgdpdatatables
- Osborne, G. (2015, March 18). Remit and recommendations for the Financial Policy Committee. HM Treasury. https://www.gov.uk/government/publications/remit-and-recommendations-for-the-financial-policy-committee-budget-2015
- Osborne, G. (2016, March 16). Remit and recommendations for the Financial Policy Committee. HM Treasury. https://www.gov.uk/government/publications/remit-and-recommendations-for-the-financial-policy-committee-budget-2016
- Quorning, S. (2023). The ‘climate shift’ in central banks: How field arbitrageurs paved the way for climate stress testing. Review of International Political Economy, 1–23. https://doi.org/10.1080/09692290.2023.2171470
- Rutter, J., Marshall, E., & Sims, S. (2012). The “S” factors: Lessons from IFG’s policy success reunions. Institute for Government. https://www.instituteforgovernment.org.uk/sites/default/files/publications/The%20S%20Factors.pdf
- Schmidt, V. A. (2008). Discursive institutionalism: The explanatory power of ideas and discourse. Annual Review of Political Science, 11(1), 303–326. https://doi.org/10.1146/annurev.polisci.11.060606.135342
- Siderius, K. (2023). An unexpected climate activist: Central banks and the politics of the climate-neutral economy. Journal of European Public Policy, 30(8), 1588–1608. https://doi.org/10.1080/13501763.2022.2093948
- Steinmo, S. (1993). Taxation and democracy: Swedish, British, and American approaches to financing the modern state. Yale University Press.
- Sternberg, J. C. (2022, September 8). The coming global crisis of climate policy. The Wall Street Journal. https://www.wsj.com/articles/the-coming-global-crisis-of-climate-policy-europe-germany-energy-prices-bankruptcy-winter-subsidies-borrowing-green-nuclear-11662651070
- Strauss, A. L., & Corbin, J. M. (1998). Basics of qualitative research: Techniques and procedures for developing grounded theory (2nd ed.). Sage.
- Sunak, R. (2020a, March 11). Remit and recommendations for the Financial Policy Committee. HM Treasury. https://www.bankofengland.co.uk/-/media/boe/files/letter/2020/chancellor-letter-11032020-fpc.pdf?la=en&hash=29B4977F925DDF52FF9F4DB627F94B475C01F0C1
- Sunak, R. (2020b, March 11). Remit for the Monetary Policy Committee. HM Treasury. https://www.bankofengland.co.uk/-/media/boe/files/letter/2020/chancellor-letter-11032020-mpc.pdf
- Svartzman, R., Bolton, P., Despres, M., Da Pereira Silva, L. A., & Samama, F. (2021). Central banks, financial stability and policy coordination in the age of climate uncertainty: A three-layered analytical and operational framework. Climate Policy, 21(4), 563–580. https://doi.org/10.1080/14693062.2020.1862743
- The Economist. (2019, December 14). The rights and wrongs of central-bank greenery. The Economist. https://www.economist.com/leaders/2019/12/14/the-rights-and-wrongs-of-central-bank-greenery
- The Economist. (2020, November 28). Culture shock - Christine Lagarde is taking the ECB out of its comfort zone. The Economist. https://www.economist.com/finance-and-economics/2020/11/28/christine-lagarde-is-taking-the-ecb-out-of-its-comfort-zone
- Thiemann, M., Birk, M., & Friedrich, J. (2018). Much ado about nothing? Macro-prudential ideas and the post-crisis regulation of shadow banking. KZfSS Kölner Zeitschrift Für Soziologie Und Sozialpsychologie, 70(S1), 259–286. https://doi.org/10.1007/s11577-018-0546-6
- Thiemann, M., Büttner, T., & Kessler, O. (2022). Beyond market neutrality? Central banks and the problem of climate change. Finance and Society, 1–21. http://financeandsociety.ed.ac.uk/ojs-images/financeandsociety/FS_Thiemann_et_al_EarlyView.pdf
- Tooze, A. (2021). Shutdown: How Covid shook the world’s economy. Penguin.
- Tucker, P. (2009, October 22). The debate on financial system resilience -macroprudential instruments. Barclays Annual Lecture. https://www.bis.org/review/r091029e.pdf
- UK Government. (2019a, June 27). UK becomes first major economy to pass net zero emissions law. https://www.gov.uk/government/news/uk-becomes-first-major-economy-to-pass-net-zero-emissions-law
- UK Government. (2019b, July). Green finance strategy. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/820284/190716_BEIS_Green_Finance_Strategy_Accessible_Final.pdf
- van ‘t Klooster, J. (2020). The ethics of delegating monetary policy. The Journal of Politics, 82(2), 587–599. https://doi.org/10.1086/706765
- van ‘t Klooster, J. (2022). Technocratic Keynesianism: A paradigm shift without legislative change. New Political Economy, 27(5), 771–787. https://doi.org/10.1080/13563467.2021.2013791
- van ‘t Klooster, J., & Fontan, C. (2020). The myth of market neutrality: A comparative study of the European Central Bank’s and the Swiss national bank’s corporate security purchases. New Political Economy, 25(6), 865–879. https://doi.org/10.1080/13563467.2019.1657077
- Woods, S. (2022). Climate capital. Bank of England. https://www.bankofengland.co.uk/speech/2022/may/sam-woods-speech-on-the-results-of-the-climate-bes-exercise-on-financial-risks-from-climate-change