1/3  BIS central bankers' speeches  Nevertheless, the need to strengthen the climate information architecture remains acute. The NGFS’s Progress Report on Bridging Data Gaps, which came out this May, offers an excellent stocktake of the current data situation and identifies ways to bridge prevalent data gaps2.
3 Challenges and opportunities So what are the challenges – or rather, the opportunities – in data collection and processing? Good quality datasets are essential for any decision maker. Governments need them to decide on the future path of carbon taxes or to benchmark carbonemission reductions. Investors need detailed information on the climate footprint of companies, to weigh their investment decisions.