The financial sector has turned into something of an ally on green issues. The big banks, insurers and reinsurers have taken up challenges in regard to climate change, ecosystem services, sustainable development. And they have lobbied for clear government policies.
At the same time, sustainability is a larger paradigm. It is not restricted to green concerns.
On economic sustainability, the financial sector has been a gigantic failure. We need to think about improving its resilience. In the mean while, we should not fear an inevitable and mostly temporary takeover by the state.
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