BIS and Bangko Sentral ng Pilipinas Host Green Swan Conference on Climate Risk
What happened
The Bank for International Settlements and Bangko Sentral ng Pilipinas co-hosted the Green Swan Conference 2026, which was also attended by Banca d'Italia and the Network for Greening the Financial System. During the conference, Eli Remolona spoke on navigating climate risks amid uncertainty, noting that climate change is already affecting economic and financial conditions rather than being solely a future threat.
From bancaditalia.it
Why it matters
Remolona stated that climate change is reducing productivity, destroying physical capital, and placing pressure on public finances. He noted that extreme weather events caused over USD 200 billion in direct damages in 2025, making resilience increasingly important for global economies.
From bancaditalia.it
Who's involved
- Bangko Sentral ng PilipinasCentral bank of the Philippines, co-host of the conference
- Bank for International SettlementsInternational financial institution, co-host of the conference
- Eli RemolonaEconomist from the Bank for International Settlements who spoke at the conference
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The entities involved
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Bangko Sentral ng Pilipinas
central bank of the Philippines
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Bank for International Settlements
international financial institution owned by central banks