No, climate data are not harmonised yet. And yes, they are patchy and incomplete. But as imperfect a measure as they may be, they will allow us to make progress, just as Kuznets and Clark’s push for national accounts data did in the Great Depression.
The Commission is in charge of designing consistent macroprudential policies and held its first meeting just yesterday. The institutional set-up is fairly advanced. Now, we need to deepen our understanding of the effects of macroprudential tools and operationalise their use. 4.