In the same vein, the ECB’s focus on these transition plans would be less on the year 2050, but rather on the intermediate points in time: 2025, 2030, 2035, 2040. Why?
I shall first outline the basic forces of change, then identify the key challenges and move on to sketch a preliminary assessment of how these challenges are currently being met. Finally, I will draw a few lessons for market participants and public authorities based on both European experience and that of others.