Financial Times Digital Dialogues: Tackling Climate Change and Biodiversity Loss
Posted on 13 October 2022
By leading from the top with a coordinated and consistent approach, central banks and financial supervisors can help develop monetary policy and regulatory frameworks that divert financial flows away from the most harmful economic activities, and towards those that better serve society and the planet.If left to continue at current rates, biodiversity loss could cost the global economy $2.7 trillion annually by 2030. Reversing this trend will hinge on quick and decisive action by the global financial community, which is uniquely placed to incentivise better market behaviour: money motivates.
This 50-minute digital dialogue, in partnership with the Worldwide Fund for Nature (WWF), brought financial regulators, supervisors, central banks, scientists, NGOs and policymakers together to discuss the mobilisation of mainstream finance in support of the transition to a sustainable global economy. Discussion focused on the preventative and preemptive actions central banks and supervisors can take now, the importance of addressing climate change and nature loss simultaneously, and the financial instruments that will incentivise swift and systemic change.