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The head of Germany鈥檚 central bank, Andreas Dombret, has warned that 鈥渇ar-reaching interventions鈥� in the economic system are necessary if the global community wants to come close to reaching the Paris Climate Agreement鈥檚 goal of limiting global warming to two degrees, Yasmin Osman writes in Handelsblatt. Dombret argues that the financial sector plays a key role in the transformation towards a more sustainable economy, adding that costs caused by natural disasters could otherwise mount so much that insurance companies are no longer able to shield the economy from profound damages. Dombret cautions that a change of the economic system 鈥渨ill force market participants to revaluate many of their assets鈥�, - meaning that the transformation will produce significant losses, for example among fossil fuel companies. The German federal reserve鈥檚 head therefore calls for a better risk evaluation of loan approvals to safeguard banks from stranded investments, Osman writes.

Read the article in German .

See the 麻豆无码版 factsheet Climate finance: a brief overview of Germany鈥檚 contributions for more information.