Financial authorities should promote the adoption of sound climate-risk assessment practices, and support the production of adequate data; while staying within their mandates, they can significantly contribute to achieving the common goal.
But markets have never been more integrated than they are today. Trade integration is ever more facilitated by technological progress, making the transportation of goods easier and faster; and by the fact that, in a digital age, a rising share of services in global output makes the distance on the ground between producers and consumers less of an obstacle to transactions.