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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.
The NECP provides a framework for EU Member States to implement their emission reduction commitments for a ten-year period. These must be aligned with the Paris Agreement. The current revision of the NECP must be built on the target of reducing emissions by at least 55% by 2030, compared to 1990 levels, as detailed in the Fit for 55 package. The NECP should thus include the strategy to align with the EU’s collective target for 2030, as well as achieving net-zero emissions by 2050.
This report includes assumptions and results of the simulations regarding an essentially decarbonised power system by 2035, with an intermediate step to 2030. This document contains proposals mainly in terms of production and technologies.
• 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.
The NECP provides a framework for EU Member States to implement their emission reduction commitments for a ten-year period. These must be aligned with the Paris Agreement. The current revision of the NECP must be built on the target of reducing emissions by at least 55% by 2030, compared to 1990 levels, as detailed in the Fit for 55 package. The NECP should thus include the strategy to align with the EU’s collective target for 2030, as well as achieving net-zero emissions by 2050.
This report includes assumptions and results of the simulations regarding an essentially decarbonised power system by 2035, with an intermediate step to 2030. This document contains proposals mainly in terms of production and technologies.