Bank of Finland articles on the economy
Due to climate change, extreme weather events will become more frequent, resulting in material damage to buildings and other infrastructure. In Finland, for example, this will probably increase the risk of coastal floods.
The need for sustainable finance has grown because of the urgency to mitigate climate change.
Investment in IT will improve banks’ long-term profitability, while weakening short-term profitability.
Finns are among the leaders in Europe in the use of digital financial services. Nordic banks have invested in digital services.
So far, the project to build a single market for capital has advanced at a relatively good pace, but now there are some difficult issues ahead.
A significant proportion of the world’s investment assets lie with companies whose business activities produce large amounts of carbon dioxide. In the future, restrictions on carbon emissions could lower the value of these companies.
Confidence is vital to the financial system. Could the next crisis stem from banks’ faltering confidence in other banks’ systems, caused by a cyber attack?