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• Empirical evidence shows that capital requirements have a significant influence on both the volume of credit and the level of bank interest rates, and also demonstrates that, despite their limited worth as a stand-alone lever to drive climate change, the use of macroprudential capital requirements can play a decisive role in mitigating the risks of transition generated by aggressive decarbonisation policies. These findings therefore show that macroprudential policies are a necessary complement to other climate policies in order to reduce the exposure to risk of financial intermediaries who, without adequate capital requirements, could serve as an amplification channel of systemic risks.
In recent years, Italy has demonstrated a growing interest in the African continent, culminating with the Italy-Africa Summit in January 2024. In order to develop a mutually beneficial partnership with Africa, through the Mattei Plan and the leadership earned through the 2024 G7 presidency, Italy must listen and respond to the needs expressed by its African partners, which include a series of reform proposals of the international financial architecture.
For the European Union, the estimated investment needed to implement the Green Deal would require a total annual investment in the 2021-2030 period of approximately 1,285 billion per year, equal to 8% of GDP of the EU in 2022. The setting up of a European energy and climate fund is therefore legally and technically feasible, and should be a decisive theme of political debate, particularly in light of the upcoming European Parliamentary elections and the renewal of the Commission.
• Empirical evidence shows that capital requirements have a significant influence on both the volume of credit and the level of bank interest rates, and also demonstrates that, despite their limited worth as a stand-alone lever to drive climate change, the use of macroprudential capital requirements can play a decisive role in mitigating the risks of transition generated by aggressive decarbonisation policies. These findings therefore show that macroprudential policies are a necessary complement to other climate policies in order to reduce the exposure to risk of financial intermediaries who, without adequate capital requirements, could serve as an amplification channel of systemic risks.
In recent years, Italy has demonstrated a growing interest in the African continent, culminating with the Italy-Africa Summit in January 2024. In order to develop a mutually beneficial partnership with Africa, through the Mattei Plan and the leadership earned through the 2024 G7 presidency, Italy must listen and respond to the needs expressed by its African partners, which include a series of reform proposals of the international financial architecture.
For the European Union, the estimated investment needed to implement the Green Deal would require a total annual investment in the 2021-2030 period of approximately 1,285 billion per year, equal to 8% of GDP of the EU in 2022. The setting up of a European energy and climate fund is therefore legally and technically feasible, and should be a decisive theme of political debate, particularly in light of the upcoming European Parliamentary elections and the renewal of the Commission.