All these factors can contribute to higher inflation and lower growth, which can erode the purchasing power of households and businesses. As  3/6  BIS - Central bankers' speeches  we all know, such events are becoming more frequent in recent years. Therefore, it is essential that we take concerted climate action to safeguard the future of our planet and its inhabitants. 14.
This is well-trodden territory and I do not have any comparative advantage to add value to the debate. I do want to address just three questions though. I have chosen these three, in part because they are less familiar themes, and in part because the debates around these issues have been reshaped by some new developments.