Energy, risks and development needs
The CEO of the Bank of Italy discusses ongoing changes and the “energy trilemma”
Plans and prospects need to be revisited quickly, following the same approach that steers the way in which individuals or groups act. This is what we are encouraged to do, lately, and is what everyone basically already does (or should do) – without, of course, compromising one’s own principles (including corporate ones), but undoubtedly revisiting, enhancing, developing them. This is why reading “Transizione climatica, finanza e regole prudenziali” (“Climate transition, finance and prudential rules”), the contribution made by Luigi Federico Signorini (CEO of the Bank of Italy and president of IVASS) at the 17th AIFIRM (Italian association of financial industry risk managers) Convention, held on 3 March, proves very useful.
Signorini takes into consideration a particular aspect of our everyday life – the energy aspect, that is, the climate transition – although his observations kind of apply to all spheres involving our current social actions.
“This meeting is taking place over a difficult period”, the speaker tells us, “The appalling events of this past week oblige us to reconsider certain essential junctures within our individual and collective behaviour. Such as our energy strategies – not a top priority perhaps, but still a significant one – with current events highlighting their political and safety, as well as environmental, implications.”
Signorini goes on to analyse the theme assigned to him, pondering over the so-called “energy trilemma”, and then continues to discuss the “role played by finance and by financial brokers within the energy transition”, along with the “management of related risks”. Next, in his role as president of IVASS, he scrutinises the issue of climate (and catastrophe) risks and their related insurance possibilities, followed by an in-depth exploration concerning the sphere of finance and how it might, in some way, be affected by both climate and energy changes (swayed in their turn by shifting international politics and power relationships), and finally, as CEO of the Bank of Italy, he concludes by making a point related to banks, insurance companies and data reliability.
Signorini makes us understand how the need to ensure a positive and prudent management of production and energy usage is, nowadays, a question of technology, politics and culture.
His analysis indubitably makes for a useful read, and has the merit of interlinking topics that are interwoven in real life, too, though not everyone clearly realises the implications this might have.
Transizione climatica, finanza e regole prudenziali (“Climate transition, finance and prudential rules”)
Contribution by Luigi Federico Signorini, CEO of the Bank of Italy and president of IVASS, 17th AIFIRM Convention Il trend inarrestabile dell’economia digitale e ESG: il pensiero dei banchieri, dei CRO e della Vigilanza (The unstoppable trend of the digital economy and ESG: the thinking of bankers, CRO and Supervision)
3 March 2022
The CEO of the Bank of Italy discusses ongoing changes and the “energy trilemma”
Plans and prospects need to be revisited quickly, following the same approach that steers the way in which individuals or groups act. This is what we are encouraged to do, lately, and is what everyone basically already does (or should do) – without, of course, compromising one’s own principles (including corporate ones), but undoubtedly revisiting, enhancing, developing them. This is why reading “Transizione climatica, finanza e regole prudenziali” (“Climate transition, finance and prudential rules”), the contribution made by Luigi Federico Signorini (CEO of the Bank of Italy and president of IVASS) at the 17th AIFIRM (Italian association of financial industry risk managers) Convention, held on 3 March, proves very useful.
Signorini takes into consideration a particular aspect of our everyday life – the energy aspect, that is, the climate transition – although his observations kind of apply to all spheres involving our current social actions.
“This meeting is taking place over a difficult period”, the speaker tells us, “The appalling events of this past week oblige us to reconsider certain essential junctures within our individual and collective behaviour. Such as our energy strategies – not a top priority perhaps, but still a significant one – with current events highlighting their political and safety, as well as environmental, implications.”
Signorini goes on to analyse the theme assigned to him, pondering over the so-called “energy trilemma”, and then continues to discuss the “role played by finance and by financial brokers within the energy transition”, along with the “management of related risks”. Next, in his role as president of IVASS, he scrutinises the issue of climate (and catastrophe) risks and their related insurance possibilities, followed by an in-depth exploration concerning the sphere of finance and how it might, in some way, be affected by both climate and energy changes (swayed in their turn by shifting international politics and power relationships), and finally, as CEO of the Bank of Italy, he concludes by making a point related to banks, insurance companies and data reliability.
Signorini makes us understand how the need to ensure a positive and prudent management of production and energy usage is, nowadays, a question of technology, politics and culture.
His analysis indubitably makes for a useful read, and has the merit of interlinking topics that are interwoven in real life, too, though not everyone clearly realises the implications this might have.
Transizione climatica, finanza e regole prudenziali (“Climate transition, finance and prudential rules”)
Contribution by Luigi Federico Signorini, CEO of the Bank of Italy and president of IVASS, 17th AIFIRM Convention Il trend inarrestabile dell’economia digitale e ESG: il pensiero dei banchieri, dei CRO e della Vigilanza (The unstoppable trend of the digital economy and ESG: the thinking of bankers, CRO and Supervision)
3 March 2022