Abdeljellil Bouzidi, The Bridge Tank, has co-authored a Brief for the Think Tank Terra-Nova http://tnova.fr/etudes/regulation-financiere-et-urgence-climatique-pour-des-normes-prudentielles-et-comptables-plus-vertesin which the authors state that «It is vital for our economies to quickly reconcile funding methods with climate goals. Both the prudential regulation of European finance and the accounting system are still exclusively focused on the prevention of a systemic crisis, which ignores in its sheer definition the climate dimension.
It is, hence, necessary and urgent to reinvest the prudential field to ensure the financing of the green economy and the fight against global warming by including environmentally macroeconomic criteria. More generally, we must stop thinking of environmental problems as externalities of the productive system.
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