6  International institutions and fora such as the International Monetary Fund or the Basel Committee on Banking Supervision (in its Core principles for effective banking supervision) clearly stress the advantages of an independent supervisor.
A key takeaway from these sessions was the increased realization that climate change is a global issue, which urgently requires a coordinated global response. The World Bank has established a new fund, namely "Scaling Climate Action by Lowering Emissions" for developing countries, which was launched yesterday at the COP27 event in Egypt.