What to expect from the accelerating progress of artificial intelligence (AI) in manufacturing as well as in services and public administration. How to prepare for it, does AI deserve – and if yes why – specific regulation, guidance or taxation ?

50 Years of Flexible Exchange Rates:
Reasons, Lessons and Perspectives

After trillions of dollars have been injected to contain the economic damage from the pandemic, inflation has suddenly come back on the radar and it may not be transitory as central banks early hoped. While inflation may hurt the interests of savers and creditors, it may also be beneficial for debtors (eg. business or governments). In your view, what are the main the threats, but also possibly the main opportunities related to inflation.

As we are approaching the end of 2021, we invite you to look back at these almost 12 months and draw the attention to what you consider as the most significant weak signal, event, decision or new trend for the economic and financial future, whether in your region or globally.

Observatoire de la Finance wishes you a Happy New Year 2022.

The Emissions Gap Report 2021 (UNEP) shows that pre-COP 26 national climate pledges combined with other mitigation measures put the world on track for a global temperature rise of 2.7°C by the end of the century, which is well above the goals of the Paris climate agreement and would lead to catastrophic changes. To what extent can the financial system as such, or its main players, be held – morally or/and legally – responsible for insufficient progress in containing climate warming? What should, and what should not be done to rapidly change this state of affairs? By whom?

The Observatoire de la Finance is a Partner of Building Bridges, taking place in Geneva from November 29 to December 2 2021. For this occasion, we organize a Round Table on Can sustainable finance break the tragedy of horizons?, Wednesday, December 1, 2021, 10h-1130 (CET), Forum Genève – Akashi Room.

Inequalities seem to accelerate in every part of the world due to Covid and otherwise. Unlike in the climate debate, in social issues we do not have a proper threshold for catastrophe. This leads to a possible overestimation of social resilience and leaves the issue as such largely untackled. Drawing on the particularities of your region or on your area of expertise, what should/can be done in priority?

« Insurance companies play a key role in pricing, transferring and managing damage-related risks. Yet, in 2015, just before the UN Climate Change Conference (COP 21), the then CEO and Chairman of global insurance company AXA – Henri de Castries – warned that “a four degrees’ rise in global average temperature is not insurable.” According to Intergovernmental Panel on Climate Change (IPCC), we are today aiming at four degrees. In fact, De Castries poses the question of how uncertainty will be priced and mitigated in our world which is off track of net-zero greenhouse gas emission target. Would public authorities become by default the only available shelter against some risks, and what would this imply for financial markets, insurance companies and public finances? »