The irony is that regulations aimed at strengthening financial stability tend to reward short-termism (higher liquidity), adding risk-weights and costs to long-term projects – that is, most green investments. Regulators must recognize that if the real economy is unsustainable, no amount of bank reforms will protect people’s livelihoods, let alone the financial system.
讽刺的是，旨在加强金融稳定的监管总是奖励短视行为（更高的流动性），反而导致长期项目的风险权重和成本的增加（大部分绿色投资是长期项目）。监管者必须意识到，如果实体经济不可持续，银行改革就无法保护人民的生活，更不用说保护金融系统了。将绿色投资要求提高区区0.5%便足以弥补年度融资缺口。