The aim of “good regulation” is to maintain the stability of the financial system, thus ensuring that the financial sector has the tools it needs to completely fulfil its role for the real economy. It is therefore important that market economy principles – such as the unity of liability and control – also apply to the financial sector.
Adding to that, climate change also requires worldwide, multilateral action, and so does handling its macro-economic consequences. In order to secure intergenerational equity it is imperative that the long-term 1/2  BIS central bankers' speeches  economic consequences of climate changes are prioritized over any short-term gains from disregarding environmental considerations.