Chapter 12
Sustainable financial systems and a new approach to financial stability
Introduction
Financial systems are transforming toward sustainability globally. This is dictated by the experience of the 2008 financial crisis and the impact of nonfinancial factors on the financial and real spheres. The costs of the impact of nonfinancial activities on the economy and the financial markets, especially those related to the effects of climate change, make it necessary to take urgent measures to transform financial systems in the world so they match sustainable development and achieving goals. Only sustainable financial systems are adequate from the point of view of achieving all sustainable development goals, and, above all, ...
