Sharon Donnery: Walking the path – the transition to net-zero

Remarks by Ms Sharon Donnery, Deputy Governor of the Central Bank of Ireland, at the 6th annual Climate Finance Week, Dublin, 21 November 2023.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
06 December 2023

Good morning everyone – it's a pleasure to be invited here to speak and to participate in one of the many interesting sessions organised as part of the 6th annual Climate Finance Week. Thanks to the Department of Finance and the International Sustainable Finance Centre of Excellence for organising what I'm sure will be another successful series of events this year.

Every year, this event is an opportunity for all of us to come together to discuss the profound challenges presented by climate change – and to engage on how best to address them.

I am very much looking forward to the panel discussion, and in these opening remarks thought I would try to set the scene by outlining some thoughts about the climate change risk landscape and the increased importance of transition financing and planning.

The climate challenge

In the years since the first Climate Finance Week, the seriousness with which governments, policymakers, businesses and the public are taking the climate challenge has grown significantly. However, so too has the appreciation of the drastic implications climate change could have for our planet.

While often discussed in terms of a long horizon and distant dates, it is fair to say we are already feeling the impact of climate change in our daily lives.