Central banks have increasingly engaged with climate-related topics in their public communication, but little is known about the drivers and effects of this shift. This column presents a comprehensive analysis of climate-related central bank communication using a novel dataset of over 35,000 speeches from 131 central banks spanning 1986-2023. The authors find that climate communication (1) follows two distinct narratives ('green finance' verus 'climate-related risks'); (2) is driven more by institutional factors than climate exposure; and (3) significantly affects stock market returns, with greener firms outperforming when central banks focus more on climate issues.