The second topic (reform of capital adequacy ratios, regulating the regulators) has inter alia to do with minimising the fallout when macroeconomic problems do emerge. How can regulation make the system more stable in principle and how can we assure that those principles are being applied in practice? The rest of this paper deals with these two issues.
This will lead the way towards the Venice Climate Summit, which will also be held next July, in which we will explore ways of scaling up dedicated finance to support global and consistent policies to pursue a just transition towards a carbon-neutral economy.