18 We participate actively in the Financial Stability Board’s (FSB) work on climate change. The FSB’s membership, mandate, and relationship with the Group of Twenty (G-20) and the standard-setting bodies position it well to play a coordinating role in addressing the interdependencies among different workstreams and supporting the G20—including the G-20 Sustainable Finance Study Group co-chaired by the U.S. Treasury.
Factors that negatively impinge on aggregate productivity growth by constraining both efficiency gains at the firm-level and the efficiency of the reallocation of resources from low- to highproductive firms have to be decisively addressed.