Real GDP growth is now projected to be 1.1 percent in 2019, 1.2 percent in 2020 and 1.4 percent in 2021. Compared with the June Eurosystem staff projections, growth for this year was revised down by 0.1 percentage points, and for next year by 0.2 percentage points. Notwithstanding the downward revisions to the growth outlook, the balance of risks remains tilted to the downside.
The members of the network aspire to exchange experiences, share best practices, contribute to the development of environment and climate risk management in the financial sector and mobilise mainstream finance to support the transition to a sustainable economy. NGFS members acknowledge that climate-related risks8 are a source of financial risk.