Global challenges for a better growth
A contribution by the Bank of Italy summarises the issues we face and the paths we should take
Production and distribution, within a complex and volatile landscape where one has to deal with the long-term consequences of change, as well as the usual economic constrictions. This is what happens nowadays (and it not only affects businesses but, in fact, every facet of a large part of developed societies). Piero Cipollone, deputy director of the Bank of Italy, explores this tangle of issues in his contribution entitled “Transizione energetica, finanza e clima: sfide e opportunità” (“Energy transition, finance and climate: challenges and opportunities”).
Cipollone’s argument first tackles the theme of climate change and its impact on the economy, and beyond. From there, the Bank of Italy’s deputy director goes on to examine the economic policies adopted and as such the role of central banks and finance as they grapple with a difficult balance between economic efficiency and effectiveness while also trying to meet environmental goals.
The contribution then proceeds to examine the “challenges” that the economic and social system is facing: first of all, the expansion of sustainable financial tools, then the reliability of data and finally the need to promptly solve a number of pressing issues. Next, Cipollone reiterates the necessity to take notice of how much companies and society are aware of the situation they find themselves in.
Underlying it all, explains the author, there is a need to develop “green finance” practices as a more evolved and different way to understand the economy and production culture. Cipollone writes in his conclusion that “Green finance is also an intellectual challenge requiring financial institutions to integrate new knowledge and information derived from other scientific fields into their standard expertise.” And it is precisely such an open attitude that makes this contribution by the Bank of Italy’s deputy director so intriguing – as well as, of course, the topics it addresses. An attitude bent on outlining a new culture of production and a novel way to conceive the relationships between society and enterprises, as well as between politics, economy and society, and which needs to be discussed, but also welcomed.
Transizione energetica, finanza e clima: sfide e opportunità (“Energy transition, finance and climate: challenges and opportunities”)
Piero Cipollone
Bank of Italy, 21 June 2022
A contribution by the Bank of Italy summarises the issues we face and the paths we should take
Production and distribution, within a complex and volatile landscape where one has to deal with the long-term consequences of change, as well as the usual economic constrictions. This is what happens nowadays (and it not only affects businesses but, in fact, every facet of a large part of developed societies). Piero Cipollone, deputy director of the Bank of Italy, explores this tangle of issues in his contribution entitled “Transizione energetica, finanza e clima: sfide e opportunità” (“Energy transition, finance and climate: challenges and opportunities”).
Cipollone’s argument first tackles the theme of climate change and its impact on the economy, and beyond. From there, the Bank of Italy’s deputy director goes on to examine the economic policies adopted and as such the role of central banks and finance as they grapple with a difficult balance between economic efficiency and effectiveness while also trying to meet environmental goals.
The contribution then proceeds to examine the “challenges” that the economic and social system is facing: first of all, the expansion of sustainable financial tools, then the reliability of data and finally the need to promptly solve a number of pressing issues. Next, Cipollone reiterates the necessity to take notice of how much companies and society are aware of the situation they find themselves in.
Underlying it all, explains the author, there is a need to develop “green finance” practices as a more evolved and different way to understand the economy and production culture. Cipollone writes in his conclusion that “Green finance is also an intellectual challenge requiring financial institutions to integrate new knowledge and information derived from other scientific fields into their standard expertise.” And it is precisely such an open attitude that makes this contribution by the Bank of Italy’s deputy director so intriguing – as well as, of course, the topics it addresses. An attitude bent on outlining a new culture of production and a novel way to conceive the relationships between society and enterprises, as well as between politics, economy and society, and which needs to be discussed, but also welcomed.
Transizione energetica, finanza e clima: sfide e opportunità (“Energy transition, finance and climate: challenges and opportunities”)
Piero Cipollone
Bank of Italy, 21 June 2022