They have been stepping up their efforts in such areas as green finance and supporting firms from the financial side. Consumers have also become more conscious of the environment, using reusable shopping bags and energy efficient electronic appliances, and purchasing electric vehicles. In terms of policy responses to solve climate change issues, governments and legislative bodies play an important role.
Many countries have been setting greenhouse gas reduction targets and implementing initiatives to reduce greenhouse gas emissions to a socially optimal level. These 1/6  BIS central bankers' speeches  initiatives include reviewing regulations or introducing carbon pricing, such as emissions trading and carbon taxes, through which the costs of climate change will be explicitly reflected in the decision making of firms and households.