Unless the current account deficit stays below around 4 per cent of GDP or we achieve a rather faster rate of economic growth than we have managed in recent decades, the ratio of net foreign capital to GDP will continue to increase from already unusually high levels.
But if we need to choose between these two, then it should rather be the Brown Penalising Factors than the Green Supporting Factors. The basis for this is that climate change and climate policies do not show up in past data and therefore the risks stemming from them are not necessarily reflected properly in the risk calculations.