Informação jurídica inteligente
 Brasil | +55 (11) 31 81 77 29

Transition to zero-carbon economy is urgent but means high social costs

Document Citado por Related
Vincent

The transition to a zero-carbon economy is urgent but will have high social and economic costs. Precisely because of this, the process requires planning and public policies, in the view of representatives from central banks who attended the seminar "Sustainability in the 50th cycle of the Mercosur Financial Meetings," held Thursday by the Central Bank of Brazil."The challenge is very big, but things must be considered with ambition," said Luiz Awazu Pereira, deputy general manager of the Bank for International Settlements. The BIS is a kind of central bank for central banks.For Mr. Awazu, "all structural reforms imply huge challenges in the distributive front." In the case of the transition to a green economy, it will be no different. According to him, this transition will necessarily have to "have relative changes" in prices, which usually generates distributional debates.The BIS executive pointed out that climate change "disproportionately affects" not only the poorest countries, but also the poorest households.In addition, Mr. Awazu said that combining the financial and public sectors to fund the necessary changes will play a "key role" in this process. The transition will also require "financial and technological resources that many countries do not have," which will make international collaboration necessary, he said.Margarita Delgado, vice president of the Bank of Spain, also highlighted the importance of public policy in the process, saying 80% of Spanish companies will be subject to risks in this transition because of their...

Para continuar a ler

PEÇA SUA AVALIAÇÃO

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT