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China Central Bank to Study Impact of Climate Change on Financial Sector

China’s central bank has joined the global conversation on managing the risks of climate change, saying it’ll study the impact on the financial sector and regulatory framework.

A warming climate is a “major factor” that could cause changes to economic and financial systems, and global central banks should stay ahead of the curve to respond to possible impacts, Chen Yulu, a deputy governor of the People’s Bank of China, said at an event on Saturday, according to the central bank’s newspaper Financial News.