To prevent catastrophic climate change and accelerate the global transition to a net-zero economy, policymakers and asset owners urgently need to rethink how we channel capital at scale. The key is to develop new financial instruments that are profitable, liquid, and easily accessible to savers and investors globally.
explain what it will take to channel private capital and savings toward sustainable development.
Whatever stories Americans are told about the strength of the economy under President Joe Biden, they are not going to be persuaded to look past the issue of their own living standards. For most Americans, these have declined somewhat as price increases have outpaced wage growth.
thinks the failure of wages to keep up with inflation explains much of the public’s dour mood.
发自波士顿—美国联邦储备委员会在近几个月陆续发布了一些与气候相关的公告:去年12月加入了央行和监管机构绿色金融网络,随后在2月成立了一个新的气候监督委员会。虽然这些都是重要的第一步,但美联储本应在应对气候变化方面更有作为,而这反过来又能帮助其完成自身政治任务。
尽管拜登总统已经明确表示会将气候考量纳入政府各项财政决策,但这并不能让央行摆脱干系。而美联储出于自身独立性考虑,又对部署将货币政策制定纳入同一轨道所需的非常规工具持谨慎态度。
但美联储已经远远超出了操纵隔夜银行借款利率(整个经济中借款者和储蓄者的基准利率)的范围并深度介入到了非常规领域,正如它开始购买资产以应对新冠疫情那样。它宣称不想挑选赢家和输家,但其实已经这样做了:任何持有央行采购资产的人最终都成为了赢家。
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
Subscribe
As a registered user, you can enjoy more PS content every month – for free.
Register
Already have an account? Log in