In this context, 1/8  BIS central bankers' speeches  externalities and risks need to be correctly priced. Climate change needs to be factored into: How we think about supervising banks and insurers; How the investment fund industry operates; and How interlinkages across the financial sector might amplify climate risks. I will address some of these issues in my remarks today.
The risks to the financial system As I mentioned earlier, in addition to taking climate change personally, we have been told to get angry and get active. Now central banks should probably not get angry. But we can certainly get active6. Particularly when we see risks building in the financial system. Climate risks are unusual for a number of reasons7.