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The climate crisis will not be helped by financial regulators virtue-signalling

Politicians and even central bankers enthuse about green finance gimmicks — but regulators must remember their mission is to ensure the stability of the financial system

Burning the house drown: But are policymakers' efforts doing more harm than good?
Burning the house drown: But are policymakers' efforts doing more harm than good? Photo: Getty Images

Everyone loves green finance, and as the economic and financial risks presented by global warming grow by the day, displays of affection proliferate.

Policymakers and businesses try in their own ways, with different degrees of efficiency and sincerity, to tackle what could be the most serious challenge to the global economy. “Our house is on fire,” the EU Parliament proclaimed last week as it declared “a climate emergency”.  

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