| Banks’ adoption of nature-related regulations rises across key regions |
| By Maud Abdelli |
| Governments, central banks and financial institutions around the world are becoming increasingly attuned to addressing the threats that climate change and nature loss pose to people, economies and ecosystems. From extreme weather events to dwindling supplies of natural resources, the crises demand strong policy signals and coordinated responses. Read the full commentary → |
Five implications of...
EU has opportunity to harness crisis to deepen economic union
By Ellie Groves and Taylor Pearce
The response from the European Commission after the 2008 financial crisis was slow and partial. Having learned from these missteps, the European Union’s response to Covid-19 was swift. The Russian invasion of Ukraine has posed yet another crisis. The EU has an opportunity to harness these crises to implement much-needed reform within its institutions and member states.
Structural reforms required to safeguard democratic future
By Sunil Sharma and William White
Macroeconomic stabilisation policies cannot address the deep structural problems that confront the economies of many advanced democracies. Indeed, pretending that they can poses a threat to democracy itself as a worsening economic reality increasingly disappoints popular expectations. To confront this political vulnerability, actual policies must be improved, but popular expectations must also become more...
Gloomy outlook for the IMF Spring meetings
By Mark Sobel
The International Monetary Fund/World Bank Spring meetings, beginning in Washington on 18 April, will be a gloomy affair. Finance ministers and central bank governors meet against the backdrop of Russia’s heinous war in Ukraine, the global economic effects of shrunken growth, higher inflation from oil and commodity prices and renewed supply disruptions, and worsening debt distress in many emerging markets and low-income countries.
Crypto growth too big to ignore for traditional finance
By Stephen Stonberg
Crypto adoption continues to rise at unprecedented levels. According to Chainalysis, last year saw a stunning 880% rise in global crypto adoption. Even long-time skeptics in the banking industry have reversed their initial hesitation. The institutionalisation of the crypto industry finds itself at a critical inflection point. A focus on regulatory clarity and greater flows between traditional finance and the crypto...
Europe needs action now on inflation to brake loss of euro trust
By Jürgen Stark
The European Central Bank’s asymmetric monetary policy approach, followed for several years, has now become a source of instability – the opposite of what its mandate decrees. After announcement of the 7.5% inflation rate in March, the highest since the euro began, this policy of vacillation has run its course and must now end. The time has come to brake the loss of trust in the ECB and in the stability of the euro....
Why China’s energy transition is so difficult
By Chunping Xie
Since the power crunch in September 2021, the Chinese government’s stance on coal appears to have changed, emphasising energy security as the top priority and recognising that coal is still a key energy source that has to be replaced by renewables gradually. Why is it so difficult for China to accelerate its energy transition away from coal?
Green push will help secure energy independence
By Sarah Moloney
The crisis in Ukraine has exposed...
Europe could pay Russian gas bill in renminbi
By Herbert Poenisch
The world was startled by Russia’s demand for unfriendly European countries to pay for Russian oil and gas exports in roubles. These are contracts which stipulate the payment currency, which in the case of the European Union is the euro. Europe would show shrewdness as well as foresight to stand up to Russian bullying by proposing to settle energy imports from Russia in renminbi.
UK reveals hand with stablecoin announcement
By Lewis McLellan
The UK is setting itself up as a ‘global cryptoasset technology hub’, but what does this really mean? On 4 April, the government announced plans to bring stablecoins within regulation to pave the way for their use in the UK as a valid form of payment.
Chancellor of the Exchequer Rishi Sunak no doubt hopes that, thanks to his announcement, the UK will compare favourably with the European Union as an attractive destination for companies...
Blockchain in capital markets: revolution in waiting?
By Philip Middleton
In theory, many aspects of capital markets, including primary bond markets, ought to be crying out for a blockchain technology enabled transformation, but perversely the digital revolution fails to ignite. It would seem that the digital revolution, as far as capital markets and distributed ledger technology are concerned, has been postponed for the duration, pending further investigation and better-argued business cases....