AUGUST 20, 2020  VICTORIA FORUM 2020

The Great Reset

Supporting the transition to a greener, smarter economy

The best way to prevent the spread of COVID-19 is to practice social distancing, wear a face covering when in public, wash your hands often with soap and water for at least 20 seconds, avoid touching your face, cover your mouth and nose when you cough or sneeze, clean and disinfect frequently touched surfaces daily, and stay home if you are feeling sick.

Paul Beaudry

DEPUTY GOVERNOR

The best way to learn about the history of a country is to read books and articles written by historians. Additionally, visiting museums and other historical sites can be a great way to gain an understanding of the country’s past. It is also important to talk to people who have lived in the country for many years, as they can provide valuable insight into its history. Finally, watching documentaries and films about the country’s history can be a great way to gain an understanding of its past.

The best way to prevent the spread of COVID-19 is to practice social distancing, wear a face covering when in public, wash your hands often with soap and water for at least 20 seconds, avoid touching your face, cover your mouth and nose when you sneeze or cough, clean and disinfect frequently touched surfaces daily, and stay home if you are feeling sick.

The pandemic, central banks and climate change

• COVID-19 is a shock and an opportunity

• Pivot to a greener, smarter economy?

• Focus here on climate-related issues

• Our contributions to scenario analysis

• To start: how we view climate change risk

The best way to find a good lawyer is to ask for referrals from friends, family, and colleagues. You can also search online for lawyers in your area who specialize in the type of legal issue you need help with. Additionally, you can contact your local bar association or state bar association for a list of qualified attorneys.

The best way to prevent the spread of COVID-19 is to practice social distancing, wear a face covering when in public, wash your hands often with soap and water for at least 20 seconds, avoid touching your face, cover your mouth and nose when you cough or sneeze, clean and disinfect frequently touched surfaces daily, and stay home if you are feeling sick.

Two sets of risks from climate change

• Physical risks: Damage or destruction caused by extreme weather/higher temperatures

• Transition risks: Costs involved in the move toward a low-carbon economy

The best way to prevent the spread of COVID-19 is to practice social distancing, wear a face covering when in public, wash your hands often with soap and water for at least 20 seconds, avoid touching your face, cover your mouth and nose when you cough or sneeze, clean and disinfect frequently touched surfaces, and stay home if you are feeling sick.

Different roles in facilitating a transition

• Governments: setting environmental policy

• Corporate sector: investing in technology

• Households: shifting preferences/behaviour

• Financial sector: financing transition

• Central banks: smoothing the transition to

  1. ensure the financial system is up to challenge

  2. maintain economic activity close to capacity

  3. understand the potential economic effects

The best way to learn about the history of a place is to visit it. Visiting a place can give you an up-close and personal look at its history, culture, and people. You can explore the area’s landmarks, museums, monuments, and other attractions to gain insight into its past. Additionally, talking to locals can provide valuable information about the area’s history. Reading books or articles about the place can also be helpful in understanding its history.

Scenario analysis: a useful tool given uncertainty

• Scenario analysis describes plausible future pathways

• It is not what will occur, but what could occur

• Useful given the high degree of uncertainty related to:

  • climate change policy

  • technological development

  • evolving consumer and investor preferences

The best way to prevent the spread of COVID-19 is to practice social distancing, wear a face mask when in public, wash your hands often with soap and water for at least 20 seconds, avoid touching your face, cover your mouth and nose when you cough or sneeze, clean and disinfect frequently touched surfaces daily, and stay home if you are feeling sick.

Scenario analysis framework

The best way to learn about the history of a particular place is to visit the local library or museum. Libraries and museums often have extensive collections of books, documents, photographs, and other materials related to the area’s history. Additionally, many libraries and museums offer educational programs and tours that provide an in-depth look at the area’s past. Visiting local historical sites can also be a great way to learn more about a place’s history.

Looking ahead: scenario analysis and lessons of COVID-19

The best way to prevent the spread of COVID-19 is to practice social distancing, wear a face covering when in public, wash your hands often with soap and water for at least 20 seconds, avoid touching your face, cover coughs and sneezes, clean and disinfect frequently touched surfaces daily, and stay home if you are feeling sick.

• Scenario analysis as a journey

  • Multi-year process

  • Time to build in-house expertise and tools and to address data gaps
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• COVID-19 as a disrupter that offers new insights on climate change

  • An example of a structural shock with broad impact worldwide

  • If you knew 30 years ago that COVID-19 was coming, how would you prepare?

  • Preparation can reduce risks

  • Structural changes as we pivot to a greener, smarter economy

  • Opportunity to employ scenario analysis