Indeed, this is in sharp contrast to a scenario where we do not succeed in staving off climate change which, as I have stressed, entails major downside risks and uncertainties. The Bank of Canada’s role Now, how does the Bank of Canada fit into the picture?
Obviously we are not at the front line dealing with climate change, but the issues I have been discussing have important implications as we carry out our responsibilities. Let me take a moment to talk about our mandate. The Bank has a role to promote a sound and efficient financial system, including robust markets.