Bank of Italy, stable rules for evaluating risks of investments in transition

"Stable rules and an adequate information framework are needed, such as to allow investors, companies and authorities to evaluate the risks and seize the opportunities of the transition, as part of a dialogue between all the actors involved". This is what the general director of the Bank of Italy Paolo Angelini said at the presentation of the ASviS Report, according to which uncertainty must be minimized because "uncertainty complicates investment choices".

The financial system, says the director general of Bank of Italy, "has the task of accompanying the energy and environmental transition, not of guiding it. It must select solid projects to finance, correctly evaluate the risks and support businesses and families in their investments" According to Angelini, "for countries like Italy, characterized by high final electricity prices in international comparison, it is likely that the expansion of renewable sources, storage and the network could reduce wholesale prices". And he says he is convinced that "in the presence of exceptional shocks to energy prices, temporary and targeted measures can protect vulnerable families and the most exposed businesses; generalized and prolonged interventions would instead absorb huge public resources, attenuate price signals and would not reduce dependence on foreign countries".