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Sabine Mauderer (born 1970) serves as member of the Executive Board of the [[Deutsche Bundesbank]]. She is a member of the Steering Committee of the [[Network for Greening the Financial System]]. Previously, she worked at the [[KfW|KfW Banking Group]] where she held different senior positions.<ref>{{Cite web|last=|title=Dr Sabine Mauderer Curriculum Vitae|url=https://www.bundesbank.de/en/bundesbank/organisation/executive-board/sabine-mauderer/curriculum-vitae-758366|url-status=live|access-date=|website=|publisher=Deutsche Bundesbank|language=}}</ref>
Sabine Mauderer (born 1970) serves as member of the Executive Board of the [[Deutsche Bundesbank]]. Previously, she worked at the [[KfW|KfW Banking Group]] where she held different senior positions.<ref>{{Cite web|last=|title=Dr Sabine Mauderer Curriculum Vitae|url=https://www.bundesbank.de/en/bundesbank/organisation/executive-board/sabine-mauderer/curriculum-vitae-758366|url-status=live|access-date=|website=|publisher=Deutsche Bundesbank|language=}}</ref> In January 2022, she was appointed Vice-Chair of the [[Network for Greening the Financial System]].<ref>{{Cite web|date=17 January 2022|title=NGFS announces the appointment of new Chair and Vice Chair, and the expansion of its Steering Committee with two new members|url=https://www.ngfs.net/en/communique-de-presse/ngfs-announces-appointment-new-chair-and-vice-chair-and-expansion-its-steering-committee-two-new|access-date=|website=|publisher=Network for Greening the Financial System|language=}}</ref>


== Education and early career ==
== Education and early career ==


Mauderer studied Law at [[Osnabrück University|Osnabrueck University]] and the [[University of Seville]], graduating in 1998. In 2000, she earned a PhD in Law from Osnabrueck University. In 2009, Mauderer obtained an Executive MBA from [[ESSEC Business School]] and [[Mannheim Business School]]. Mauderer started her career in 2000 as legal trainee at the Higher Regional Court of Hamburg. From 2003 until 2006, she worked at the German [[Federal Ministry of Finance (Germany)|Federal Ministry of Finance]] on financial markets. From 2004 to 2005, Mauderer was seconded to the [[Embassy of Germany, Washington, D.C.|German Embassy in Washington, D.C]]. as senior counsellor. In 2006, Mauderer joined the KfW Banking Group where she held several senior positions. In 2018, she was appointed to the Executive Board of the Deutsche Bundesbank where she is in charge of market operations and human resources.<ref>{{Cite web|title=Dr Sabine Mauderer Curriculum Vitae|url=https://www.bundesbank.de/en/bundesbank/organisation/executive-board/sabine-mauderer/curriculum-vitae-758366|url-status=live|access-date=|website=|publisher=Deutsche Bundesbank|language=}}</ref>
Mauderer studied Law at [[Osnabrück University|Osnabrueck University]] and the [[University of Seville]], graduating in 1998. In 2000, she earned a PhD in Law from Osnabrueck University. In 2009, Mauderer obtained an Executive MBA from [[ESSEC Business School]] and [[Mannheim Business School]].<ref>{{Cite web|title=Dr Sabine Mauderer Curriculum Vitae|url=https://www.bundesbank.de/en/bundesbank/organisation/executive-board/sabine-mauderer/curriculum-vitae-758366|access-date=|website=|publisher=Deutsche Bundesbank|language=}}</ref> From 2003 until 2006, she worked at the German [[Federal Ministry of Finance (Germany)|Federal Ministry of Finance]] on financial markets. From 2004 to 2005, Mauderer was seconded to the [[Embassy of Germany, Washington, D.C.|German Embassy in Washington, D.C]]. In 2006, Mauderer joined the KfW Banking Group where she held several senior positions. In 2018, she was appointed to the Executive Board of the Deutsche Bundesbank where she is in charge of market operations and human resources.<ref>{{Cite news|last=Mannweiler|first=Antonia|last2=Schönauer|first2=Inken|date=28 March 2020|title=Eine Bundesbankerin im Krisenmodus|pages=26|work=Frankfurter Allgemeine Zeitung}}</ref>


== Work at the Bundesbank (since 2018) ==
== Work at the Bundesbank (since 2018) ==


Mauderer is responsible for the implementation of the Eurosystem’s [[monetary policy]] in Germany by the Deutsche Bundesbank. This includes main and longer-term refinancing operations whereby banks are provided with liquidity as well as conducting the Eurosystem’s asset purchase programmes.<ref>{{Cite web|title=Monetary policy framework|url=https://www.bundesbank.de/en/tasks/monetary-policy/monetary-policy-framework/monetary-policy-framework-625964|url-status=live|access-date=|website=|publisher=Deutsche Bundesbank|language=}}</ref>
Mauderer is responsible for the implementation of the [[European Central Bank|European Central Bank’s]] [[monetary policy]] in Germany by the Deutsche Bundesbank.<ref>{{Cite news|last=Mannweiler|first=Antonia|last2=Schönauer|first2=Inken|date=28 March 2020|title=Eine Bundesbankerin im Krisenmodus|pages=26|work=Frankfurter Allgemeine Zeitung}}</ref>


=== ''Capital markets'' ===
=== ''Capital markets'' ===


Mauderer is a member of the Stock Exchange Experts Commission (''Börsensachverständigenkommission''), an advisory body that counsels the Federal Ministry of Finance on capital market issues. She has taken the view that the [[Capital market|capital markets]] hold great potential for contributing to addressing societal challenges such as the [[Digital transformation|digital]] and [[Climate change|ecological]] transition. Mauderer has argued that these challenges will entail fundamental transformations to economies and societies worldwide. Meeting these challenges will require great financial efforts from both the public and the private sector.<ref>{{Cite web|last=Mauderer|first=Sabine|title=Alterssicherung nach Corona: Probleme ungelöst – Spielräume eingeengt|url=https://www.bundesbank.de/de/presse/reden/alterssicherung-nach-corona-probleme-ungeloest-spielraeume-eingeengt-874866|url-status=live|access-date=|website=|publisher=Deutsche Bundesbank|language=|type=Speech at Wirtschaftstag 2021, Berlin, 31 August 2021}}</ref><ref>{{Cite web|last=Hoyer|first=Werner|last2=Mauderer|first2=Sabine|date=|title=Post-Communist Lessons for the Green Transition {{!}} by Werner Hoyer & Sabine Mauderer|url=https://www.project-syndicate.org/commentary/eu-green-transition-lessons-from-post-communist-1990s-by-werner-hoyer-and-sabine-mauderer-2021-06|url-status=live|access-date=|website=Project Syndicate|language=}}</ref> In this context, Mauderer has made the case for more openness in Germany and Europe towards capital markets.<ref>{{Cite web|last=Mauderer|first=Sabine|title=Enterprises should further diversify their funding|url=https://www.bundesbank.de/en/press/contributions/mauderer-enterprises-should-further-diversify-their-funding-845136|url-status=live|access-date=|website=|publisher=Op-ed published in Handelsblatt, 23 September 2020|language=}}</ref> More openness towards capital markets investment could help deepen capital markets in Germany and Europe. Deeper capital markets in turn are better positioned to fund innovative technologies that are necessary to drive forward the digital and sustainable transformation.<ref>{{Cite web|last=Mauderer|first=Sabine|title=Europe needs to embrace a fresh investment culture|url=https://www.bundesbank.de/en/press/contributions/europe-needs-to-embrace-a-fresh-investment-culture-793022|url-status=live|access-date=|website=|publisher=Op-ed published in Handelsblatt, 19 April 2021|language=}}</ref> In this context, Mauderer has also stressed the importance of a fully-fledged [[Capital Markets Union|European capital markets union]].<ref>{{Cite web|last=Mauderer|first=Sabine|title=Enterprises should further diversify their funding|url=https://www.bundesbank.de/en/press/contributions/mauderer-enterprises-should-further-diversify-their-funding-845136|url-status=live|access-date=|website=|publisher=Op-ed published in Handelsblatt, 23 September 2020|language=}}</ref>
Mauderer believes that [[Capital market|capital markets]] play an important role in financing the [[Climate change|sustainable]] and [[digital transformation]] of the economy in Germany and Europe.<ref>{{Cite web|last=Neubacher|first=Bernd|date=1 October 2021|title=Bundesbank erwärmt sich für Verbriefungen {{!}} Börsen-Zeitung|url=https://www.boersen-zeitung.de/banken-finanzen/bundesbank-erwaermt-sich-fuer-verbriefungen-7c93c3da-21d3-11ec-a648-d6c6fcb466ee|access-date=|website=|publisher=Börsen-Zeitung|language=}}</ref> This transition will require considerable investments from the public and the private sector. Mauderer has argued that [[Public–private partnership|public-private partnerships]] can be a feasible way to mobilise funds for the transition.<ref>{{Cite web|last=Breinich-Schilly|first=Angelika|date=21 April 2021|title=Green Finance braucht durchdachte Klimapolitik|url=https://www.springerprofessional.de/nachhaltige-geldanlagen/emerging-markets/zentralbank-ist-kein-ersatz-fuer-fehlende-klimapolitik/19064254|access-date=|website=|publisher=Springer Professional|language=}}</ref> Mauderer has also made the case for more openness of businesses in Germany towards capital markets to finance innovations.<ref>{{Cite web|date=25 October 2021|title=Investmentmarkt: Bundesbank ermuntert Firmen zu Kooperation mit privaten Investoren|url=https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/investmentmarkt-bundesbank-ermuntert-firmen-zu-kooperation-mit-privaten-investoren/27735148.html|access-date=|website=|publisher=Handelsblatt|language=}}</ref> In this context, she has expressed support for a [[Capital Markets Union|European capital markets union]].<ref>{{Cite web|last=Sleegers|first=Anna|date=19 November 2019|title=Mauderer wünscht sich mehr Vertrauen in Europa {{!}} Börsen-Zeitung|url=https://www.boersen-zeitung.de/banken-finanzen/mauderer-wuenscht-sich-mehr-vertrauen-in-europa-ae053160-5f71-4539-aded-8b13874c1d8e|access-date=|website=|publisher=Börsen-Zeitung|language=}}</ref>


=== ''Climate change and central banks'' ===
=== ''Climate change and central banks'' ===


Sabine Mauderer has argued that [[climate change]] poses financial risks to the [[financial system]] and thus affects the work of central banks. Therefore, central banks need to address climate-related risks, taking a risk-based-approach.<ref>{{Cite web|last=Mauderer|first=Sabine|last2=Goulard|first2=Sylvie|title=Setting a good example – central banks put climate change and its impact higher on the agenda|url=https://www.bundesbank.de/en/press/contributions/setting-a-good-example-central-banks-put-climate-change-and-its-impact-higher-on-the-agenda-800872|url-status=live|access-date=|website=|publisher=Op-ed published in Süddeutsche Zeitung and Les Echos, 8 July 2019|language=}}</ref> She views central banks as catalysts and analytical spearhead that raise the urgency to act.<ref>{{Cite news|last=Mauderer|first=Sabine|date=|title=Central banks have a part to play in the fight against climate change|work=Financial Times, 27 February 2020|url=https://www.ft.com/content/5b32bef0-57bb-11ea-abe5-8e03987b7b20|access-date=}}</ref> Mauderer is member of the steering committee of the Network for Greening the Financial System. She also chairs the network’s workstream that looks at how central banks can support the scaling up of green finance. The NGFS has published several reports that analyse the impact of climate change on monetary policy<ref>{{Cite web|last=|date=|title=Climate change and monetary policy: initial takeaways|url=https://www.ngfs.net/en/climate-change-and-monetary-policy-initial-takeaways|url-status=live|access-date=|website=|publisher=Network for Greening the Financial System|language=}}</ref> and that lay out options for central banks to adjust their monetary policy frameworks.<ref>{{Cite web|date=|title=Adapting central bank operations to a hotter world: Reviewing some options|url=https://www.ngfs.net/en/adapting-central-bank-operations-hotter-world-reviewing-some-options|url-status=live|access-date=|website=|publisher=Network for Greening the Financial System|language=}}</ref> Mauderer has taken the view that the lack of granular and consistent climate-related data is a major obstacle to targeted action. She has called for the creation of a “sustainable finance data universe”.<ref>{{Cite web|last=Mauderer|first=Sabine|title=Welcome remarks at the International Conference on Statistics for Sustainable Finance|url=https://www.bundesbank.de/en/press/speeches/welcome-remarks-at-the-international-conference-on-statistics-for-sustainable-finance-875412|url-status=live|access-date=|website=|publisher=Deutsche Bundesbank|language=}}</ref> In this context, Mauderer has also emphasised the importance of making progress on establishing common standards for the disclosure of climate-related information by companies and financial institutions as well as central banks.<ref>{{Cite news|last=Mauderer|first=Sabine|date=|title=Central banks have a part to play in the fight against climate change|work=Financial Times, 27 February 2020|url=https://www.ft.com/content/5b32bef0-57bb-11ea-abe5-8e03987b7b20|access-date=}}</ref>
Sabine Mauderer has argued that central banks need to address climate change because it poses risks to [[financial stability]].<ref>{{Cite web|last=Pandey|first=Ashutosh|date=19 June 2019|title=Climate change: Myopic stock markets deter green investments|url=https://www.dw.com/en/climate-change-myopic-stock-markets-deter-green-investments/a-49248966|access-date=|website=|publisher=Deutsche Welle|language=}}</ref> She sees central banks as catalysts to make the financial system greener. <ref>{{Cite web|last=Breinich-Schilly|first=Angelika|date=21 April 2021|title=Green Finance braucht durchdachte Klimapolitik|url=https://www.springerprofessional.de/nachhaltige-geldanlagen/emerging-markets/zentralbank-ist-kein-ersatz-fuer-fehlende-klimapolitik/19064254|access-date=|website=|publisher=Springer Professional|language=}}</ref><ref>{{Cite news|last=Mauderer|first=Sabine|date=|title=Central banks have a part to play in the fight against climate change|work=Financial Times, 27 February 2020|url=https://www.ft.com/content/5b32bef0-57bb-11ea-abe5-8e03987b7b20|access-date=}}</ref> Moreover, Mauderer has stressed that central banks need use their analytical capacities to underline the urgency for governments to take action.<ref>{{Cite web|last=McGarthy|first=Emma|date=25 October 2021|title=Sustainable taxonomies are not yet fit for purpose|url=https://www.omfif.org/2021/10/sustainable-taxonomies-are-not-yet-fit-for-purpose/|access-date=|website=|publisher=OMFIF|language=}}</ref> In general, Mauderer has taken the view that innovation, for instance [[Financial technology|FinTech]], will be critical in the fight against climate change.<ref>{{Cite web|last=Piad|first=Tyrone Jasper C.|date=16 December 2020|title=‘Fintech tools can be used for data for green financing’ {{!}} Tyrone Jasper C. Piad|url=https://businessmirror.com.ph/2020/12/16/fintech-tools-can-be-used-for-data-for-green-financing/|access-date=|website=BusinessMirror|language=}}</ref><ref>{{Cite web|last=Herbert Smith Freehills LLP|date=2 December 2020|title=FinTech Global Regulatory Round-up|url=https://www.lexology.com/library/detail.aspx?g=3edbfc24-1a7b-4f65-a80e-646aba8ce16b|access-date=|website=Lexology|language=}}</ref> Since January 2022, Mauderer is Vice-Chair of the Network for Greening the Financial System.<ref>{{Cite web|date=17 January 2022|title=NGFS announces the appointment of new Chair and Vice Chair, and the expansion of its Steering Committee with two new members|url=https://www.ngfs.net/en/communique-de-presse/ngfs-announces-appointment-new-chair-and-vice-chair-and-expansion-its-steering-committee-two-new|access-date=|website=|publisher=Network for Greening the Financial System|language=}}</ref> Prior to taking up this position, Mauderer oversaw several reports of the Network for Greening the Financial System that mapped out options for central banks to adjust their monetary policy to tackle climate change.<ref>{{Cite news|last=Arnold|first=Martin|date=15 December 2020|title=Fed joins central bankers backing Paris climate goals|work=Financial Times|url=https://www.ft.com/content/008a12d2-7736-4db0-af9c-e063a0bcdd7a|access-date=}}</ref><ref>{{Cite news|last=Arnold|first=Martin|date=24 March 2021|title=Top central banks identify nine ways to make their policies greener|work=Financial Times|url=https://www.ft.com/content/23fe7217-9b65-4bd3-aa75-768a1ee6c4d3|access-date=}}</ref>


== Other activities (selection) ==
== Other activities (selection) ==
Stock Exchange Experts Commission of the Federal Ministry of Finance (Member)
Stock Exchange Experts Commission of the Federal Ministry of Finance (Member)

Steering Committee of the Central banks and Supervisors Network for Greening the Financial System (NGFS) (Member)


Leibniz Institute for Financial Research SAFE (Member of the Board of Trustees)
Leibniz Institute for Financial Research SAFE (Member of the Board of Trustees)

Revision as of 17:07, 17 February 2022

Sabine Mauderer (born 1970) serves as member of the Executive Board of the Deutsche Bundesbank. Previously, she worked at the KfW Banking Group where she held different senior positions.[1] In January 2022, she was appointed Vice-Chair of the Network for Greening the Financial System.[2]

Education and early career

Mauderer studied Law at Osnabrueck University and the University of Seville, graduating in 1998. In 2000, she earned a PhD in Law from Osnabrueck University. In 2009, Mauderer obtained an Executive MBA from ESSEC Business School and Mannheim Business School.[3] From 2003 until 2006, she worked at the German Federal Ministry of Finance on financial markets. From 2004 to 2005, Mauderer was seconded to the German Embassy in Washington, D.C. In 2006, Mauderer joined the KfW Banking Group where she held several senior positions. In 2018, she was appointed to the Executive Board of the Deutsche Bundesbank where she is in charge of market operations and human resources.[4]

Work at the Bundesbank (since 2018)

Mauderer is responsible for the implementation of the European Central Bank’s monetary policy in Germany by the Deutsche Bundesbank.[5]

Capital markets

Mauderer believes that capital markets play an important role in financing the sustainable and digital transformation of the economy in Germany and Europe.[6] This transition will require considerable investments from the public and the private sector. Mauderer has argued that public-private partnerships can be a feasible way to mobilise funds for the transition.[7] Mauderer has also made the case for more openness of businesses in Germany towards capital markets to finance innovations.[8] In this context, she has expressed support for a European capital markets union.[9]

Climate change and central banks

Sabine Mauderer has argued that central banks need to address climate change because it poses risks to financial stability.[10] She sees central banks as catalysts to make the financial system greener. [11][12] Moreover, Mauderer has stressed that central banks need use their analytical capacities to underline the urgency for governments to take action.[13] In general, Mauderer has taken the view that innovation, for instance FinTech, will be critical in the fight against climate change.[14][15] Since January 2022, Mauderer is Vice-Chair of the Network for Greening the Financial System.[16] Prior to taking up this position, Mauderer oversaw several reports of the Network for Greening the Financial System that mapped out options for central banks to adjust their monetary policy to tackle climate change.[17][18]

Other activities (selection)

Stock Exchange Experts Commission of the Federal Ministry of Finance (Member)

Leibniz Institute for Financial Research SAFE (Member of the Board of Trustees)

Deutsche Welthungerhilfe (Member of the Board of Trustees)

European Climate Foundation (Member of the Advisory Council)[19]

References

  1. ^ "Dr Sabine Mauderer Curriculum Vitae". Deutsche Bundesbank.{{cite web}}: CS1 maint: url-status (link)
  2. ^ "NGFS announces the appointment of new Chair and Vice Chair, and the expansion of its Steering Committee with two new members". Network for Greening the Financial System. 17 January 2022.
  3. ^ "Dr Sabine Mauderer Curriculum Vitae". Deutsche Bundesbank.
  4. ^ Mannweiler, Antonia; Schönauer, Inken (28 March 2020). "Eine Bundesbankerin im Krisenmodus". Frankfurter Allgemeine Zeitung. p. 26.
  5. ^ Mannweiler, Antonia; Schönauer, Inken (28 March 2020). "Eine Bundesbankerin im Krisenmodus". Frankfurter Allgemeine Zeitung. p. 26.
  6. ^ Neubacher, Bernd (1 October 2021). "Bundesbank erwärmt sich für Verbriefungen | Börsen-Zeitung". Börsen-Zeitung.
  7. ^ Breinich-Schilly, Angelika (21 April 2021). "Green Finance braucht durchdachte Klimapolitik". Springer Professional.
  8. ^ "Investmentmarkt: Bundesbank ermuntert Firmen zu Kooperation mit privaten Investoren". Handelsblatt. 25 October 2021.
  9. ^ Sleegers, Anna (19 November 2019). "Mauderer wünscht sich mehr Vertrauen in Europa | Börsen-Zeitung". Börsen-Zeitung.
  10. ^ Pandey, Ashutosh (19 June 2019). "Climate change: Myopic stock markets deter green investments". Deutsche Welle.
  11. ^ Breinich-Schilly, Angelika (21 April 2021). "Green Finance braucht durchdachte Klimapolitik". Springer Professional.
  12. ^ Mauderer, Sabine. "Central banks have a part to play in the fight against climate change". Financial Times, 27 February 2020.
  13. ^ McGarthy, Emma (25 October 2021). "Sustainable taxonomies are not yet fit for purpose". OMFIF.
  14. ^ Piad, Tyrone Jasper C. (16 December 2020). "'Fintech tools can be used for data for green financing' | Tyrone Jasper C. Piad". BusinessMirror.
  15. ^ Herbert Smith Freehills LLP (2 December 2020). "FinTech Global Regulatory Round-up". Lexology.
  16. ^ "NGFS announces the appointment of new Chair and Vice Chair, and the expansion of its Steering Committee with two new members". Network for Greening the Financial System. 17 January 2022.
  17. ^ Arnold, Martin (15 December 2020). "Fed joins central bankers backing Paris climate goals". Financial Times.
  18. ^ Arnold, Martin (24 March 2021). "Top central banks identify nine ways to make their policies greener". Financial Times.
  19. ^ "Dr Sabine Mauderer Curriculum Vitae". Deutsche Bundesbank.{{cite web}}: CS1 maint: url-status (link)
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