  Propose to the Ministry of Public Administration, or issue a report to that effect, the initiation of proceedings against members of the Banco de España’s governing or management bodies, to ascertain responsibilities relating to presumed breaches of any of the obligations established in Articles 6, 26(2) and 28 of the Law of Autonomy of the Banco de España.   Learn, in the immediately following session, of any resolutions of the Executive Commission adopting any kind of precautionary measures against credit institutions.   Be aware of the resolution of the Executive Commission on approval of the Banco de España’s organisation chart and changes to it and on the creation of commissions and committees.   Be informed of delegations and advocations made by the Governor. 4 Powers of the Executive Commission  14    Contribute to implementation of the monetary policy developed by the European System of Central Banks, in accordance with Article 21(1)(b) of the Law of Autonomy of the Banco de España.   Make decisions on administrative authorisations to be granted by the Banco de España.   Organise the Banco de España and appoint its staff. Understood to currently refer to the Minister for Economic Affairs and Digital Transformation. 8    Appoint Directors General and set their remuneration in accordance with the relevant provisions of Article 71 of the Internal Rules. The Governing Council shall, in any case, ratify these appointments.
For example, the IEA estimates that the transition could require $ in energy sector investments a year for decades – twice the rate at present.11 By 2050 we will need nearly 95% of electricity supply to be low carbon, 70% of new cars electric, retrofitting of the entire building stock, and an 80% fall in the CO2 intensity of the building sector.12 With an estimated $ trillion of infrastructure investment expected between 2015 and 2030, smart decisions now can make sure that investment is both financially sound and environmentally sustainable.13 Investing in more sustainable agriculture could deliver an estimated $ trillion in economic benefits per year and generate millions of jobs, while also improving food security and reducing GHG emissions.14 Reducing air pollution could not only prevent millions of premature deaths per year, but avoid over  11  See IEA (2017), ’Perspectives for the Energy Transition - Investment Needs for a Low-Carbon Energy System.’ Ibid. 13 New Climate Economy (2018), ‘The 2018 Report of the Global Commission on the Economy and Climate.’ 12  7  All speeches are available online at www.bankofengland.co.uk/publications/Pages/speeches/default.aspx  7  $ billion in lost productivity and health impacts.15 Getting climate disclosure right will mean that investment flows to firms which are managing the risks and seizing the opportunities. Ensuring our banks and insurers are resilient to climate-related risks will reinforce this process while keeping the financial system open for UK households and businesses in all types of weather.