Europe is recalibrating its industrial policy in response to external challenges. Maive Rute, Frank Vandermeeren and Anca Dumitrescu investigate the goals of this recalibrated approach and the key components for success

Global efforts to tackle the climate and nature crises have not progressed as hoped, says Christine Lagarde. This sharpens the case for deeper analysis from the research and central banking communities to better understand the risks to price and financial stability

Governments across Europe are increasingly acting to help industry remain competitive without compromising EU climate policy. Stan Olijslagers, Corjan Brink, Xinyu Li, Rutger Teulings and Herman Vollebergh argue that both goals cannot be met using a single instrument

The global asset management industry is simultaneously growing and consolidating. Dirk Schoenmaker argues that US firms’ rise in EU asset management may weaken sustainable finance, making tougher stewardship, ESMA supervision and autonomy urgent

Can trade policy drive global climate action? Maximilian Fuchs and Camille Reverdy write that early experience of the EU carbon border adjustment mechanism shows trade can spread carbon pricing, but lower-income partners need support

Nature is the economy’s life support system, and it is under strain. Frank Elderson calls for stronger global cooperation to tackle nature related financial risks