While this might impose some costs on the financial sector and increase the cost of financial intermediation, the benefits are sure to outweigh those costs. This is particularly the case when we see the terrible costs of the high unemployment being experienced in a number of countries around the world at the moment in the aftermath of their financial crises.
Sustainable development and climate risks: the role of central banks Speech by Ignazio Visco Governor of the Bank of Italy Sustainable Development Festival 2019 ‘Finance and financial system for sustainable development’ The Italian Alliance for Sustainable Development Rome, 21 May 2019 The question of whether natural resources and the development objectives of nations are compatible is an issue that has long been debated in the field of economics.