The primary role of central banks is to maintain price and financial stability. However, climate change, associated physical and transitory risks, and biodiversity loss affect prices, asset values, and ultimately the stability of the financial system as a whole through various channels. Since these impacts directly affect our mandate, it is important that we understand and systematically analyze them. Only then can we establish procedures to best fulfill our key functions in the face of climate change, pursuing the stability target in general public interest.