Climate change is here and actions to combat it and to significantly reduce carbon emissions have to be swift. The financial industry plays an important role in this transition, but the real difference is with what lies outside of the financial system, Swedish Financial Supervisory Authority General Director Erik Thedéen said in a recent speech at a seminar in Stockholm.
The finance sector’s continuous work on issues related to climate and sustainability is extremely valuable but it’s not where the real difference is made, Thedéen said, issuing a warning for unreasonable expectations.
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