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Better sustainability data is still needed to accelerate the low-carbon transition in capital markets

Investors need more trustworthy sustainability data. Regulators should leave space for better products to emerge, while remaining alert to well-known patterns of misconduct in capital markets. Capital reallocation towards sustainable investments is viewed as essential to Europe’s low-carbon transition. The European Union has already developed global standards with its taxonomy of sustainable activities and disclosure rules applying to financial market firms. But data on the environmental,...

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Tailoring prudential policy to bank size: the application of proportionality in the US and euro area

In-depth analysis prepared for the European Parliament's Committee on Economic and Monetary Affairs (ECON). This study was prepared for the European Parliament’s Committee on Economic and Monetary Affairs (ECON). The study is available on the European Parliament’s online database, ‘ThinkTank‘. Copyright remains with the European Parliament at all times. All jurisdictions tailor their prudential policies to bank size, with generally more complex – though not necessarily more stringent –...

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Global Economic Resilience: Building Forward Better

A roadmap for systemic economic reform calling for step-change in global economic governance to increase resilience and build forward better from economic shocks, prepared for the G7 Advisory Panel on Economic Resilience. This report summarises the work of the Independent G7 Economic Resilience Panel in 2021, and its final policy recommendations, based on engagement and research throughout the year. The Panel, chaired by Lord Mark Sedwill, has produced an agenda for economic resilience, the...

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Will ‘common prosperity’ address China’s inequality?

Check the previous editions of ZhōngHuá Mundus Sign up for the newsletter The concept of “common prosperity” has deep roots in the Chinese Communist Party. It was already used in the 1950s and the late 1970s under different leaderships. On August 17 2021, President Xi Jinping highlighted this concept again, calling for China to achieve “common prosperity”, seeking to narrow a yawning wealth gap that threatens the country’s economic ascent and the legitimacy of Communist Party rule. Since...

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The inconsistency in global strategic relations

All of this talk on strategic retrenchment and autonomy is the language of escalation, not of appeasement and collaboration. This piece was originally published in Kathimerini and is forthcoming in Helsingin Sanomat. “There’s a fundamental truth of the twenty-first century within each of our own countries and as a global community,” President Joe Biden told the United Nations on 21 September. “Our own success is bound up with others succeeding as well.” Biden’s actions however, seem to...

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Making antitrust work for, not against, gig workers and the self-employed

Policymakers should act to deal with labour-market concentration trends that potentially harm workers, especially gig workers and the self-employed. By: Georgios Petropoulos Date: October 11, 2021 Topic: Digital economy and innovation In late September, the Chair of United States Federal Trade Commission, Lina Khan, urged Congress to consider passing legislation to ensure gig workers who organise do not fall foul of antitrust laws. The European Union has already taken some steps...

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The only quick-fix to Europe’s energy price crisis is saving energy

The only thing Europe can quickly do to prevent a potentially difficult winter is to actively promote energy conservation in both the residential and industrial sectors. This piece was originally published in Euractiv. Faced with spiralling energy prices, European governments are trying to shield vulnerable households and small businesses with tax cuts, price caps or rebates. These temporary government interventions are designed to protect the most vulnerable households from the energy...

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Pandemic prevention: avoiding another cycle of ‘panic and neglect’

Agreement is needed at international level on mechanisms to ensure better preparedness for the next pandemic. COVID-19 proved a surprise for most of the world despite a trend of increasingly frequent pathogen outbreaks in the last 40 years. Scientists warn the trend will continue. But pandemic crises typically suffer from a ‘panic-and-neglect’ cycle, in which global measures to prevent and prepare for future pandemics remain chronically deficient. Will COVID-19 be any different? It should be...

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Is tech redefining the workplace for women?

Laura Nurski, Sabine Theresia Köszegi and Giuseppe Porcaro explore the relationship between artificial intelligence and job transformation and ask whether the impact differs by gender. Today, work is often segregated by gender — with great ramifications for women across the world. Will increased use of technology decrease or increase current discrepancies? What can we do today in our schools and workplaces to help women in the future? Bruegel’s own Giuseppe Porcaro spoke to Bruegel...

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