this conference that i am able to welcome you all together today. of course, there are two sides to any new technology, both positive and negative, and we cannot ignore the importance of the kind of exchange that can only come through face - to - face communication. in that respect, i do feel a certain ambivalence toward digital technology. and yet, even after we have overcome the pandemic, a full return to the less digital pre - pandemic world seems unlikely. society has undergone irreversible change as it has adapted to the pandemic by expanding and accelerating digitalization. by building on our discoveries and experience during this health crisis, we should forge ahead and shape the new society and economy — the new normal. v. conclusion over the past 15 years, we have been through two global crises : the financial crisis and the health crisis. in addressing these two crises, cooperation among central banks, international institutions, and academia has deepened further, and the theory and practice of economic policies have evolved. in the current crisis, academic disciplines, including economics, have made a significant contribution. cross - discipline approaches are providing timely policy suggestions, as, for example, through joint research in epidemiology and economics, or the use of digital technology to analyze mobility data. we are beginning to see the light at the end of this pandemic tunnel, but the light does not clearly reveal the shape of the society and economy we are approaching. therefore, the theme of our conference, “ perspectives and policy challenges after the covid - 19 pandemic, ” is going to cover a wide range of issues. given the considerable uncertainty we face, it is only natural that we will have different views on the relative importance of the issues involved and the direction our discussions should take. for the time being, we do not have to agree on all the details ; the important thing is for participants from central banks, international institutions, and academia to present their views and share their ideas. although we have only a few hours today and tomorrow, it is very encouraging to be able to welcome representatives from various institutions and from academia to participate in these discussions. i look forward to hearing a broad spectrum of views and insights into the post - pandemic economy and policies. thank you. 3 / 3 bis central bankers'speeches

robert holzmann governor oesterreichische nationalbank welcome remarks october 7, 2021 climate protection : state of play, division of labor, steps forward conference organized by the oenb in cooperation with suerf honorable guests, ladies and gentlemen, dear colleagues, a warm welcome to everybody – those participating here on the premises of oesterreichische nationalbank and those of you participating remotely. i am delighted that at least some of you were able to join us on - site, which gives us a taste of normality in exceptional times. but the impression of “ back to normality ” is deceptive. the pandemic has compelled us to adjust to a new normality, which helps us learn to adapt our society and economy to another new normality – the long - term challenge of climate change, the topic of today ’ s high - level event. who would be better suited than lord stern to give a bird ’ s - eye view of the current state of play in global and european climate protection and adaptation politics? professor nicolas stern chairs the grantham research institute on climate change and the environment at the london school of economics. he was chief economist of the ebrd and, later, of the world bank. i remember many productive interactions when i served at the world bank ’ s research committee that he directed. lord stern later held several positions including that of the second permanent secretary to her majesty ’ s treasury, but may be best known for heading the influential stern review on the economics of climate change, published in 2006. his publication record is impressive, encompassing more than 15 books and 100 articles. among the various prizes he received is the austrian schumpeter award. at the award ceremony here at oenb six years ago, he highlighted the opportunity that low - carbon technologies offer to generate prosperity and wealth. today, however, we want to move the discussion about the transition to a low - carbon economy forward – from the “ why ” to the “ how ”. nicholas has a lot to say on why we should change but certainly also on how to build coalitions, mix policies and coordinate activities in europe and beyond to achieve globally agreed emission goals. let me highlight a few challenges regarding both the why and the how. publisher and editor : oesterreichische nationalbank communications division otto - wagner - platz 3, 1010 vienna, po box 61 why is climate change relevant for central banks? the simple answer is, because climate change affects our targets