The world has reached a milestone in recognising the gravity of climate change, but the battle to blunt environmental destruction will be protracted and require full-throated support from the financial industry, said global asset managers, regulators and central bankers on Wednesday.
Market signals and the “greed and fear” choices that drive financial markets are not just essential to channel capital away from entrenched coal-, oil- and gas-powered economies – they are vital to change the behaviour of billions of global consumers, said participants at a three-day virtual conference co-sponsored by the Bank for International Settlement and International Monetary Fund (IMF).
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