Climate change is affecting our economies and thus price and financial stability, which lie at the heart of central banks' mandates. This urges us to take climaterelated considerations into account in the conduct of monetary and macroprudential policies and in the supervision of banks. In July last year, the Eurosystem central banks concretised our commitments and adopted a roadmap on climate-related actions.
In my speech today, I would like to first review the current policy initiatives targeting the major weaknesses revealed by the turmoil in the financial markets. I will then assess whether there are lessons to be drawn as regards the institutional supervisory framework, with particular focus on the interplay between central banks and supervisory authorities.