We can innovate with financial instruments, funds, and other investment vehicles that combine sustainable risk capital with commercial aspects, reaching high returns with particular attention to climate change, conservation, and sustainable management. To do so, the financial system needs more granular information and greater clarity of the opportunity cost of ecosystem services.
In some countries the transfer of sovereignty – I prefer to say sharing – that this implies is a major stake, in others it is no problem. But one must remember that with globalisation, it is precisely by sharing sovereignty that countries can better preserve it. In the long term, the euro must be based on a greater degree of integration.