Climate Finance

Gabriel Makhlouf: Net-zero by 2050 ‘unquestionably’ lowest-cost option for the economy

Gabriel Makhlouf, the CBI governor, said that while it was too early to recalibrate the financial system, growth in climate change data would align investment with transition goals

Picture: Patrick Browne

Achieving net-zero emissions by 2050 is “unquestionably” the lowest-cost option for society and the financial system, the head of the Central Bank of Ireland (CBI) has said.

Gabriel Makhlouf, the governor of the CBI, warned that many properties in Ireland will become uninsurable in the coming years as flood risk increases.

Speaking at the Environmental Protection Agency’s (EPA’s) annual climate change conference in Dublin Castle on Wednesday, Makhlouf called for the Irish financial sector to ...