In all of these areas, we have sought to dovetail our supervisory arrangements with those of the home supervisors - particularly Australia - in order to keep banks’ compliance costs relatively low and to avoid excessive operational inefficiencies for banks. We are a welcoming, but responsible, host.
Meanwhile, Prof. Peter J. Sinclair argued that consumption of nature’s capital calls for taxation so that there would be rewards for depleting natural capital more slowly. Regarding t he terminology of “Green GDP”, Prof. Sinclair argued that it is a misnomer in that it focuses on gross income, and not on income net of depreciation in any sense.