We’ve looked at how the energy transition could impact the economy, we’ve looked at how the financial sector is at risk from climate change and the energy transition. So if we’re a bit critical, from our supervisory mandate we’re mostly just focusing on climate risks. But isn’t climate just one of the SDGs? Aren’t there 16 other SDGs?
And couldn’t each of these SDGs have physical or transition risks for our economy and therefore for our financial sector? Let’s take a look for example at SDG #15, Life on Land. Every year we gain 3.5 billion hectares of desert. And every year we lose 13 million hectares of forest. Biodiversity is also declining at an alarming pace.