Green Transformation of the Economy – How Can Structural Change Succeed?
Chamber of Industry and Commerce for Munich and Upper Bavaria, Max-Joseph-Str. 2, 80333 Munich
With its goal of becoming climate-neutral by 2045, Germany is more ambitious than any other G-20 country. Achieving this goal will require a profound transformation of the economy, which will have to be accompanied by enormous investments. One critical issue is how to finance of this enormous investment requirement. The transformation therefore opens up opportunities for the financial sector, but also entails risks. As a critical component of infrastructure, the financial sector can play a key role significantly in the successful green transformation of the real economy, but it must also correctly calculate the risks of climate change correctly.
- How do central banks view look at the risks arising from the climate crisis and the necessary structural change? Where do such risks arise?
- The challenges posed by climate change and the upheaval in the real economy also affect the financial sector. Is the financial system identifying and pricing in ecological risks?
- What role do central banks and supervisors play in moving toward a financial system that recognizes and internalizes ecological risks?
- Climate change is in full swing – the world is already visibly changing before our eyes and at an accelerating pace. Are the measures taken sufficient to finance the green transformation?
Sabine Mauderer, Member of the Executive Board of the German Federal Bank and Chairman-designate of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), will discuss these and other questions in her presentation on the topic "Green Transformation of the Economy – How Can Structural Change Succeed?".
Moderator: Bastian Brinkmann, Deputy Head of the Economics Editorial Office of Süddeutsche Zeitung