Thus, a good climate policy corrects prices and enhances the functioning of the market economy over the longer term. Right now, it’s practically impossible to come up with a serious estimate of how much the transition to a low-carbon economy will cost and who will have to bear the burden of the adjustment at the end of the day.
• An orderly and early transition is sure to be less costly than a wavering policy, however. • A clear framework will help us to better deal with uncertainties, enabling long-term planning and investment.  [3] And let me stress another point: the financial sector of course has a key part to play in the financing of this structural change.