This, he said, can help us achieve: –  a better understanding of risks;  –  better pricing for investors;  –  better decisions by policymakers,  –  - and a smoother transition to a lower-carbon economy. These and other concerns are being shared by the Financial Stability Board, of which I am member and which Carney chairs.
Being clear and up-front on our supervisory approach – on our greater willingness to intervene and to enforce our requirements – is desirable not only in terms of transparency but also accountability. Setting out our approach publicly, which we will do in more detail in coming months, will help build confidence and commitment to our enhanced supervisory model.