First, we will be offering extraordinary liquidity like we did in the pandemic only in extreme market-wide situations, when the entire financial system faces funding constraints. Second, as I touched upon earlier, penalty pricing should be built into our extraordinary actions whenever possible to make the program unattractive once financial conditions improve.
The Guiding Principles is based on principles-based taxonomy that will enable investors to identify opportunities that comply with sustainability criteria for high-impact investments. The same will help banks and financial institutions to create and structure sustainable finance products and support financing and investment decisions.