Money held in the form of electronic funds on a mobile phone has analogies with a demand deposit in a bank; it is non interest bearing but accessible on demand. However, there are undoubtedly opportunities for product innovation within mobile banking, in particular to extend the type of services available beyond basic payments to include savings products and possibly even loans.
– National governments should then play a decisive role: besides underlining the importance of carbon pricing schemes, let me reiterate the need for removing environmentally harmful subsidies, thereby promoting a reallocation of capital towards green investment. This year Italy is not only chairing the G20, but is also partner with the UK Presidency, which is also leading the G7, for the next COP26.