Climate risks call for a change of paradigm, expanding the horizon of empirical and theoretical analysis to better understand and integrate the effects of climate change into macro-financial models and policy tools. In the euro area, central banks are actively working to integrate climate change considerations with their mandates.
This is particularly evident in their shared focus on closing the gap between the function of money as a repository of value and the function of the economy to promote trade and employment. Islamic finance is just finance I mentioned earlier that Islamic finance has transcended borders and regions.